New Delhi: The trade ministers of the Group of Twenty (G20) nations have reached an agreement on a common statement opposing the use of food coercion through trade measures, representing a consensus on an issue increasingly linked to geopolitical tensions and supply chain disruptions.
At the G20 Trade Ministers’ Meeting in Milwaukee, India’s minister of commerce and industry Piyush Goyal, called on countries to protect food security while making sure that domestic measures taken to stabilize supplies and prices are not seen as trade distortions.
The agreement is being made at a time when developing economies are still dealing with the consequences of conflicts that have disrupted markets for food, fuel and fertilizers. Goyal said that fertilizer shortfalls could lead to broader food crises, with the effects falling most heavily on countries in the Global South.
India clarifies that its food stock and procurement measures were temporary and intended to ensure the availability of foodgrain in the country. Furthermore, New Delhi asserted its support for the World Trade Organization-led trading system while also calling for greater policy flexibility for developing countries.
The ministers adopted the outcome document titled “G20 Statement on the Weaponization of Food through Coercive Trade Actions” and expressed their intent to continue cooperation on the issue, according to a statement from the commerce ministry.
The minister referred to existing mechanisms, such as the G20 Agricultural Market Information System, established in 2011, and the exemption from export restrictions for purchases by the World Food Programme, adopted at the WTO’s 12th Ministerial Conference.
Goyal is on a week-long visit to the US from 29 September to 5 October to participate in the G20 Trade Ministers’ Meeting, held in Milwaukee on 30 September and 1 October, at the invitation of US trade representative Jamieson Greer.
On the sidelines of the meeting, Goyal and Greer also discussed the India-US trade relationship and the ongoing negotiations for an interim agreement under the India-US bilateral trade agreement. The discussions were aimed at advancing the understanding reached in the 7 February India-US joint statement, according to official statements.
The two sides also exchanged views on the G20 trade ministers’ deliberations under the US presidency.
Goyal also held bilateral meetings with trade and economic officials from Brazil, Poland and the European Union (EU). His discussions with the EU included progress on the proposed India-EU free trade agreement.
Separately, the minister interacted with US manufacturing and technology leaders at a roundtable organized by the National Association of Manufacturers. He invited American companies to deepen investments and partnerships in India, including through greater engagement with Indian small and medium enterprises to build resilient supply chains.
Earlier on Thursday, Goyal joined G20 trade ministers and Greer on a visit to the Rockwell Automation office and factory in Mequon, Wisconsin.
He also held bilateral meetings with Brazil’s minister of development, industry, trade and services and foreign minister; the US trade representative; the European commissioner for trade and economic security; the UK secretary of state for business, innovation, science and trade; Mexico’s secretary of economy and Poland’s minister of finance and economy.
Goyal also attended a welcome dinner hosted by Greer and US agriculture secretary Brooke Rollins at the Milwaukee Art Museum.
