Next round of talks for ASEAN-India trade pact slated for Feb next year
The next round of talks for the review meeting of the ASEAN-India Trade In Goods Agreement (AITIGA) will be held in Jakarta, Indonesia in February next year, according to the Indian Ministry of Commerce and Industry.
ASEAN and Indian flags. Photo courtesy of newsarenaindia.com.
The fourth round of the talks concluded in New Delhi this month, the ministry said, adding the review of the pact will be a step forward in enhancing trade with the ASEAN region in a sustainable manner.
There are eight sub-committees under the AITIGA joint committee to negotiate aspects related to market access, rules of origin, standards and technical regulations, customs procedures, economic and technical cooperation, trade remedies, and legal and institutional provisions.
The AITIGA was signed in 2009 and New Delhi has been asking for a review of the agreement to eliminate barriers and misuse of the trade pact.
ASEAN has around 11% share in India's global trade.
India-ASEAN trade in fiscal year 2024 was $121 billion and reached $73 billion during April-October this year with a 5.2% growth.
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