Motorsport's governing body is confident that strides have been made towards finalising a new version of the Concorde Agreement, the document that sets out how F1 operates.

FIA president Jean Todt, Bernie Ecclestone and representatives of all twelve teams met in Paris on Monday [22 October] to discuss various issues facing F1 in the short-term and, despite the self-imposed deadline of late October looking unlikely, the governing body described the talks as 'constructive', although the official statement sent out after the event provided little more in the way of detail.

"During a constructive meeting, Jean Todt, the FIA president, in co-operation with Bernie Ecclestone, the commercial rights holder, has presented to all F1 team principals the new structure of governance, including the new conditions of entry for the Concorde Agreement, starting in 2013," the missive read, "All the participants in the meeting were encouraged to seek clarification which resulted in a fruitful and helpful debate on how the new structure would operate in 2013 and beyond.

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"A further important step has been achieved today to secure the future of the F1 world championship which should lead to a final settlement to be reached between the FIA, the commercial rights holder and the teams in the coming weeks."

In addition to the talks surrounding the new Concorde Agreement, the various parties also discussed the thorny subject of cost-cutting, with several concepts apparently being put forward for consideration.