Gandhinagar: In a significant development, India and China engaged in a bilateral meeting during the third G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in Gandhinagar. The closed-door meeting brought together Union Finance Minister Nirmala Sitharaman and her Chinese counterpart, Liu Kun, at the esteemed Mahatma Mandir, the summit venue.
The discussions primarily revolved around the G20 Finance agenda and its relevance to the ongoing G20 meeting. Minister Liu Kun commended India’s leadership within the G20 and acknowledged the significant achievements thus far. Key topics on the agenda included deliverables under the G20 India Presidency, such as bolstering Multilateral Development Banks (MDBs), addressing global debt vulnerabilities, and examining the progress of the Global Partnership for Financial Inclusion (GPFI). Minister Liu Kun also expressed appreciation for the work of the G20 Independent Expert Group for Strengthening MDBs, established under the G20 India Presidency.
Union Finance Minister Nirmala Sitharaman, in turn, commended China’s efforts as co-chair of the Sustainable Finance Working Group throughout the G20 India Presidency. The ministers engaged in discussions regarding the state of their respective economies, inflation, and trade. They both recognized the significance of cultivating a conducive business environment to promote economic growth and development.
The G20 summit in Gandhinagar has witnessed similar bilateral meetings with Canada, Indonesia, the United States, the European Commission, and Bangladesh. Minister Liu Kun also had a separate meeting with Nepalese Finance Minister Dr. Prakash Sharan Mahat, where they discussed bilateral issues. Furthermore, a bilateral meeting between India and Nepal is scheduled for later in the day, further enhancing diplomatic engagements during the summit.
These bilateral meetings serve as crucial platforms for countries to exchange views, strengthen cooperation, and address common challenges. As the G20 summit progresses, the discussions held between India and China, along with other nations, are expected to contribute to the formulation of collaborative strategies for global economic recovery and development.