India Hosts 8Th AITIGA Joint Committee Meeting To Review ASEAN-India Trade Agreement

(MENAFN- KNN India) New Delhi, April 12 (KNN) India hosted the eighth meeting of the ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee from April 7-11, 2025, at Vanijya Bhawan in New Delhi.

The five-day meeting, conducted in a hybrid format, focused on reviewing and modernising the existing trade agreement between India and ASEAN member states.

The meeting was co-chaired by Rajesh Agrawal, Additional Secretary, India's Department of Commerce, Ministry of Commerce and Industry, alongside Deputy Co-Chair Dr. Sugumari S. Shanmugam, Senior Director, Malaysia's Ministry of Investment, Trade and Industry.

Delegates from all ten ASEAN member nations participated in the proceedings, including representatives from Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam.

The primary objective of the committee was to advance the ongoing comprehensive review of the AITIGA, with specific emphasis on modernising the agreement to enhance its effectiveness, user-friendliness, and overall conduciveness to bilateral trade.

As part of the main committee meeting, five specialised Sub-Committees operating under the AITIGA Joint Committee also conducted concurrent hybrid sessions.

Four of these Sub-Committees convened in New Delhi, focusing on distinct aspects of the trade relationship: Customs Procedures and Trade Facilitation; Economic and Technical Cooperation; National Treatment and Market Access; and Sanitary and Phytosanitary measures.

The fifth Sub-Committee, dedicated to Rules of Origin, met simultaneously in Jakarta, Indonesia.

These specialised sessions facilitated progress in textual discussions and established the groundwork for forthcoming tariff negotiations.

The strategic importance of the ASEAN bloc as India's trade partner remains significant, accounting for approximately 11 percent of India's global trade volume.

During the fiscal year 2023-24, bilateral trade between India and ASEAN reached a substantial USD 121 billion, underscoring the economic significance of this partnership.

The Joint Committee has scheduled its next meeting for June 2025 in Kuala Lumpur, Malaysia, where participants will continue their collaborative efforts toward enhancing economic integration between India and ASEAN member nations.

(KNN Bureau)

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