This week, India and Qatar will finalise the Terms of Reference (ToR) for a planned free trade deal, marking a significant step forward in their economic relationship. Commerce and Industry Minister Piyush Goyal will begin a two-day visit to Doha to discuss the CEPA, the commerce ministry confirmed.
The ToR establish the framework for negotiations, outlining the agreement’s objectives, scope, and parameters. Its signing is the first step before formal discussions may start. Goyal will co-chair the Qatar-India Joint Commission on Trade with Qatar’s Minister of Commerce and Industry, Sheikh Faisal bin Thani.
Senior officials from many ministries will follow Goyal, and discussions will cover a wide variety of topics, including trade performance, the removal of current trade barriers, and non-tariff challenges. Cooperation is also projected to grow in finance, agriculture, the environment, tourism, culture, and healthcare.
Qatar has already offered $10 billion in investment in India and plans to open an office for its sovereign wealth fund, the Qatar Investment Authority. Bilateral trade is currently valued at $14.14 billion, with India’s imports, primarily energy products such as liquefied natural gas and crude oil, greatly outpacing exports.
