The standard operating procedure (SOP) for negotiating free trade agreements (FTAs) will be ready by the end of this year. This will standardise the process based on the learnings from previous trade pacts, a senior official said on Thursday.
The document will not need approval of the Cabinet or higher authorities, as it is meant for internal use by officials, but will be placed before them for guidance, the official said.
The work on the SOP is almost complete and by placing it before higher authorities, the Department of Commerce will benefit from their experience, he said.
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Attempts were made in the past to draw up an SOP for FTA negotiations, but the process could not be completed The idea was revived last year and the final draft is almost ready.
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The SOP that is being worked on will be a 2024 version which would be revised based on the learnings from the more complex FTAs that are being negotiated with the UK and the European Union.
“The idea of the SOP is to see that we list out our process of negotiations and standardise it. Whatever learning we are having from different FTA negotiations, we are able to document and see that the best practices are incorporated in it…” the official added.
He said the SOP is a process document and not a strategy document. Similar documents of the European Union, Australia and other international organisations have been referred to while drawing it up.
As FTA talks involve different ministries, it will also be used for capacity building by them.
The need for an SOP has arisen as FTAs have become more complex. Unlike the FTAs signed in the past, new-age FTAs cover a wide range of issues, including goods, tariff liberalisation, services, investments, customs procedures, sustainability, and even topics like gender equality.
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The number of policy areas covered by the India-UK FTA is 26,
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