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BusinessTrade Ministry Develops FTA Strategy to Ensure Negotiation Success

Trade Ministry Develops FTA Strategy to Ensure Negotiation Success


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.

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

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