Qatar Commits To Begin Bilateral Trade Agreement Negotiations With India: Piyush Goyal

Speaking at an industry event on Friday, Commerce Minister Piyush Goyal said that Qatar Minister told him to start the negotiations.

Qatar has indicated its preparedness to commence formal trade negotiations with India, according to who made the announcement during an industry event on Friday.

The development follows initial discussions that took place during the state visit of Qatar's Amir, Sheikh Tamim bin Hamad Al-Thani, to India in February 2024.

During the February state visit, both nations had acknowledged the necessity of exploring strategies to enhance and diversify bilateral trade relations.

The countries specifically agreed to prioritise addressing market access issues concerning trade in goods and services, while exploring the feasibility of establishing a bilateral Comprehensive Economic Partnership Agreement.

Both governments have set an ambitious target of doubling bilateral trade volume by 2030.

Minister Goyal also provided updates on India's trade negotiations with Oman, suggesting that the agreement should be 'sorted out' within the coming weeks.

However, he refrained from specifying a concrete timeline or date for the signing ceremony of the India-Oman Comprehensive Economic Partnership Agreement. Negotiations between India and Oman, which began in 2023, have recently been concluded.

The minister outlined India's extensive ongoing trade negotiations, including active discussions with the European Union, Eurasia bloc, Chile, and Peru.

Notably, he mentioned bilateral trade agreement talks with the United States, which are planned for completion in the first phase by October-November 2025.

According to Goyal, these multiple trade engagements are designed to create new market opportunities, investment possibilities, and channels for bringing enhanced scale, quality, and innovation to India's economic landscape.

(KNN Bureau)

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