Building Bridges: How Global Trade Negotiators Become Like Family

Commerce Minister Piyush Goyal shares insights from recent tough trade negotiations, highlighting the importance of building strong relationships. He reflects on personally connecting with international counterparts and emphasizes the critical nature of balancing national interests while fostering mutual respect during free trade agreement discussions across the globe.

Commerce Minister Piyush Goyal revealed the intricacies of recent intense trade negotiations, noting how these talks have fostered strong international relationships. He described the experience as akin to forming a family, owing to the rapport he built with his foreign counterparts.

Goyal has been central to negotiating eight free trade agreements, including critical deals with the UK, the European Union, and Australia. Most notably, he played a role in reducing US tariffs from 50% to 18%. These negotiations require sharp thinking and the ability to consider future implications without losing the temper, he said.

Despite the cordial relations cultivated, Goyal emphasized the need to prioritize national interests, acknowledging the demanding nature of this work. Respecting sensitivities while cautiously navigating the multifaceted impacts of agreements is crucial, he stated, underscoring the long-term implications of these trade discussions.

(With inputs from agencies.)