On May 30, 2024 in Kochi The Marine Products Export Development Authority (MPEDA) successfully organized a pivotal consultative meeting on the Free Trade Agreement (FTA). The event witnessed the participation of esteemed officials from various Export Promotion Councils (EPCs) including the Spices Board, Rubber Board, Coir Board, Coconut Board, Textile Committee, Apparel Export Promotion Council, and the Agricultural and Processed Food Products Export Development Authority (APEDA), along with several prominent exporters.
The meeting was inaugurated by Dr. M. Karthikeyan, Director of MPEDA, who extended a warm welcome to the gathering. The focal point of the discussions was the detailed exposition by Mr. A. Bipin Menon, ITS, Development Commissioner, SEZ Noida, on the tariff benefits and rules of origin pertaining to recently concluded FTAs. Mr. Menon highlighted key agreements such as those between India and the UAE, India and Australia, and the European Free Trade Association (EFTA) comprising Norway, Switzerland, Liechtenstein, and Iceland. He emphasized the potential economic advantages and the streamlined trade opportunities these FTAs present for Indian exporters.
Mr. Menon also urged the Export Promotion Councils to actively engage in outreach programs to educate and motivate exporters to capitalize on these FTAs. His address underscored the importance of leveraging these agreements to enhance export volumes and contribute significantly to the country’s economic growth.
In addition, Mr. Vimal Anand, IRS, Joint Secretary, SEZ, introduced the Digital Economy and Societies Hub (DESH) bill, offering insights into its implications and benefits for the trade community. The DESH bill aims to bolster the digital infrastructure and regulatory framework, facilitating smoother and more efficient trade practices.
A key highlight of the meeting was the address by Mr. D. V. Swamy IAS, Chairman of MPEDA. Mr. Swamy elaborated on the innovative concept of the Marine Development Hub. He outlined the strategic benefits and the potential for establishing dedicated aqua parks to foster marine and aquaculture industries. This initiative is expected to provide a significant boost to the sector, promoting sustainable development and increasing export competitiveness.
The consultative meeting concluded with a consensus on the need for continuous collaboration and proactive measures to maximize the benefits of FTAs. The participants expressed their commitment to working together towards a more vibrant and thriving export ecosystem.
