As director-general, a position that wields limited formal power, Okonjo-Iweala, 66, will need to broker international trade talks in the face of persistent U.S.-China conflict
Under the Trump administration, US-India tensions have increased over each side's tariff policies, a Congressional report has said
Modi arrived here on a three-day visit on Saturday to attend the ASEAN-India, the East Asia and the RCEP summits.
Japan announced earlier this month that it was removing South Korea from its own "white list" of countries that have enjoyed minimum trade restrictions.
With countries no longer bound by ideological considerations, but by economic priorities, commerce will have to lead diplomacy said Nirmala Sitaraman, Minister of State for Commerce and Industry. Trade between nations, which leads to greater integration, lowers potential for conflict, she added.Sitaraman was speaking at the launch of a new book titled "India and the World - Essays on Geoeconomics and Foreign Policy", by Sanjaya Baru, an economic and political analyst.Baru, who was also media advisor to former Prime Minister Manmohan Singh, contested the notion held by many that the 21st century belongs to China, whose rise shall challenge the existing unipolar world order dominated by the US. "The 21st century will not be dominated by one country but rather by many like India, Brazil, Turkey. The challenge before India is how to manage this multi- polar world," he said. How the world shapes up is extremely critical for India as it looks to negotiate Free Trade Agreements (FTAs) in ord