New Delhi: India and Qatar are set to finalise the terms of reference (ToR) this week to initiate talks for a free trade agreement (FTA), the commerce ministry announced in a statement on Sunday.
The development will be a key topic during the two-day visit of India’s Commerce and Industry Minister Piyush Goyal to Doha, starting October 6. During the 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, Qatar’s Minister of Commerce and Industry.
Accompanied by senior officials from various ministries and a large business delegation, Goyal is expected to engage in extensive discussions covering bilateral trade performance, existing trade barriers, non-tariff issues, and opportunities to boost trade and investment flows between the two nations.
“The talks are likely to include deliberations on the proposed India-Qatar FTA, with the way forward on finalisation of the Terms of Reference for the Comprehensive Economic Partnership Agreement (CEPA), which will further strengthen economic cooperation between both countries,” the ministry stated.
The Terms of Reference typically outline the modalities for negotiating a trade pact, setting the foundation for formal discussions.
Apart from trade, cooperation in other vital sectors such as finance, agriculture, environment, tourism, culture, and healthcare will also be an integral part of the talks.
Qatar holds significant importance as an Indian trading partner within the Gulf Cooperation Council (GCC), with bilateral trade exceeding USD 14 billion in 2024-25. The GCC includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).
India already maintains a trade agreement with the UAE, and a similar deal is anticipated with Oman. However, Minister Goyal has previously stated that a proposal for an FTA with the entire GCC is not currently on the table.
In February this year, India and Qatar agreed to double their bilateral trade to USD 28 billion over the next five years, underscoring their commitment to deepening economic ties.
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