Recent global events have escalated geopolitical tensions and have raised the risks of geoeconomic fragmentation. With the international global order significantly changed and an increasingly uncertain global environment, there is an urgent need to restore the balance between economics and security. In this context, this track will discuss some of these challenges and the role of global cooperation in addressing global issues and providing global solutions.
Session: Is Minilateralism the Future of Global Trade?
Regional and bilateral trade agreements have dominated recent trade activity, with more than half of international trade taking place under such agreements. As the patterns of trade shift towards diversification, bilateral and plurilateral trade agreements help open up markets for countries aspiring to leverage global trade for resilient and sustainable growth. India has stepped up its engagement in free trade agreements and has finalised new FTAs with Mauritius, the UAE and Australia while working with partner nations on other such agreements.
How will such regional and bilateral agreements contribute to accelerating the pace of global trade? What are the ways in which FTAs are transforming global value chains?