Standard operating procedure document for negotiating FTAs to be ready this year
standard operating procedure (SOP) document for negotiating free trade agreements (FTAs) is expected to be ready by the end of this year, an official said on Thursday. The official said that it is an internal document which aims to standardise the processes of negotiations of these pacts.
The commerce ministry is formulating the document and it would seek «guidance» from higher authorities also on this for any changes if required.
It has been circulated informally to 17 ministries, including agriculture, labour and environment, for their views as FTA negotiation is a multi-ministerial exercise.
«Our target is this year. We would like to have the 2024 version. It will be reviewed after every 2-3 years,» the official said, adding that the objective is to document «our process of negotiations so that whatever learning we are having of different FTA negotiations, we are able to document those».
It will also include the best practices which gives «best out-comes» so that whenever somebody is doing these negotiations in the future, he/she is able to refer to it.
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