New Delhi: India and Qatar are expected to finalise the terms of reference (ToR) this week to commence talks for a free trade agreement (FTA), the commerce ministry announced on Sunday.
This development will be a key agenda during the two-day visit of Commerce and Industry Minister Piyush Goyal to Doha, beginning October 6. During his visit, Goyal will attend the Qatar-India Joint Commission on Trade and Commerce meeting, which will be co-chaired by Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry of Qatar.
Accompanied by senior officials from various ministries and a large business delegation, Goyal and the Qatari leadership are expected to engage in comprehensive discussions. These will include reviewing bilateral trade performance, addressing existing trade barriers and non-tariff issues, and exploring new avenues to boost trade and investment flows between the two countries.
“The talks are likely to include deliberations on the proposed India-Qatar FTA, with the way forward on finalising the Terms of Reference for the Comprehensive Economic Partnership Agreement (CEPA), which will further strengthen economic cooperation between both countries,” the ministry stated.
Typically, the ToR outlines the modalities for negotiating a trade pact. Besides trade, the discussions will also focus on enhancing cooperation in key sectors such as finance, agriculture, environment, tourism, culture, and healthcare.
Qatar holds significant importance as a trading partner of India within the Gulf Cooperation Council (GCC), with bilateral trade exceeding USD 14 billion in 2024-25. The GCC comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE). India currently has a trade agreement with the UAE, and a similar deal is anticipated with Oman.
However, Minister Goyal has previously mentioned that a proposal for an FTA with the entire GCC is not on the table at this time.
In February this year, India and Qatar agreed to double bilateral trade to USD 28 billion over the next five years, highlighting the growing economic ties between the two nations.
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