back to top
BusinessTrade Ministry Develops FTA Strategy to Ensure Negotiation Success

Trade Ministry Develops FTA Strategy to Ensure Negotiation Success

Date:

Trade Ministry Plans Prevent Overstraining of Resources Amid Multiple FTA Negotiations

As the Ministry of Commerce and Industry takes on several important free trade agreement negotiations concurrently, officials met recently to strategize managing workloads effectively. The Ministry is currently working on prospective deals with key trading partners like the United Kingdom, European Union and Australia.

At a meeting headed by Commerce Secretary Sunil Barthwal, participants discussed robust resource management to avoid overburdening teams. Sustainable approaches were explored to ensure proactive problem-solving through constructive efforts. It was noted that continuous stakeholder engagement is crucial for inclusive outcomes, as their insights provide critical perspectives.

Hosted by the Department of Commerce and the Indian Institute of Foreign Trade in Neemrana, the two-day ‘Chintan Shivir' brainstormed strategy and standard procedures. Former negotiators, and experts attended, along with academics and legal professionals. Evolving standard operating procedures and documental memory was highlighted to better achieve trade goals and coordinate future negotiations.

Speakers emphasized leveraging interdisciplinary support as complex negotiations require diverse expertise. Gathering sector-specific knowledge from experts and industries enhances the process. Resources like foreign missions can provide on-ground regulatory understanding of partner nations. Global industrial policy shifts that incorporate protectionism were also discussed.

should utilize FTAs to build resilient supply chains through critical mineral cooperation. Capacity development and specialized knowledge were noted as important to adapt to changing globalization trends and geopolitics. Overall, the Ministry is committed to securing India's interests through well-managed negotiations and strategic long-term planning.

Northlines
Northlines
The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

Share post:

Popular

More like this
Related

EV Startup Fisker Seeks Chapter 11 Protection After Ocean Model Woes

Much-hyped EV maker Fisker Inc. has filed for Chapter...

Over Rs 90,000 crore to be raised as dozens of Indian firms unveil public listing plans

Seeding Money: Dozens of Firms Eye Public Listings to...

Treasury Considers Personal Income Tax Breaks to Boost Consumption and Private Capital Spending

"Treasury mulls income tax relief to spur spending, private...

Zomato Explores Acquiring Paytm’s Cinema and Events Platform to Boost New Business Lines

Leading food delivery service Zomato has acknowledged it is...