Current Affairs - Persons - Discussion

The Union Minister of Commerce & Industry and Railways, Shri Piyush Goyal addressed the International dialogue on South-South and Triangular Cooperation that was held in New Delhi. Reforms to be taken on World Trade Organisation(WTO) by all the member countries was the key topic addressed. The South-South and Triangular Cooperation organised by Research and Information System (RIS) and the United Nations Office for South-South Cooperation(UNOSSC). The member countries of WTO were asked to engage in rule-based, transparent, and non-discriminatory governance required for free trade in a non-discriminatory manner, keeping in mind the interests of member countries with disparate (essentially different in kind) GDP. The world economy is more likely to fall into a recession if not taken measures on the protectionism policies followed by the member countries which affects the trade engagement.