India, ASEAN talk changes for trade in goods agreement

The AITIGA was signed in 2009. In September 2022, both sides tasked the AITIGA Joint Committee to undertake the review to make the agreem

ent more trade-facilitative and mutually beneficial.

Delegates at the meeting of the AITIGA in New Delhi (Photo: pib.gov.in)

A total of eight sub-committees have been constituted under the AITIGA Joint Committee for undertaking negotiations on different policy areas related to the agreement.

The first two meetings of the Joint Committee were held in May and August 2023.

At its third meeting, the committee held detailed discussions and took stock of the progress in the negotiations.  The sub-committees reported the progress and outcome of their discussions related to market access, rules of origin and standards, technical regulations and conformity assessment procedures to the joint committee.

After discussions, the committee outlined the focus areas for further deliberations and updated the work program for the review while providing necessary guidance to the sub-committees to carry forward the negotiations.

India-ASEAN trade has grown to 131.58 billion USD in the 2022-23 fiscal year. The review of AITIGA will facilitate further expansion of trade between the two sides in a balanced and sustainable manner. Both sides are aiming to conclude the review in 2025. The 4th meeting of the AITIGA Joint Committee is planned to be held in Kuala Lumpur, Malaysia in May 2024.

Source: VNA