Next Round Of India-Asean Trade Agreement Review Talks In Feb

The next round of talks to review the India-Asean Free Trade Agreement (AITIGA) will take place in February 2025 in Jakarta, Indonesia, according to an official statement from the Commerce Ministry on Saturday. The announcement follows the completion of the fourth round of negotiations earlier this month.

The review of the Asean-India Trade in Goods Agreement (AITIGA) aims to enhance trade with the Asean region in a sustainable manner. The AITIGA, which has been in place since its signing in 2009, has been a long-standing demand from Indian businesses, who seek a revision to address barriers and prevent misuse of the trade pact.

Key Areas of Negotiation in AITIGA Review

The AITIGA Joint Committee consists of eight sub-committees responsible for discussing various aspects of the agreement. These include:

• Market access
• Rules of origin
• Standards and technical regulations
• Customs procedures
• Economic and technical cooperation
• Trade remedies
• Legal and institutional provisions

Strong Trade Partnership Between India and ASEAN

As a group, Asean is one of India’s major trade partners, accounting for around 11% of India’s global trade. Bilateral trade between the two regions reached USD 121 billion in 2023-24, with USD 73 billion in trade recorded from April to October of this year, reflecting a 5.2% growth.

Key Asean Members Involved in the Agreement

The Asean region includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

---