World News | ASEAN-India Trade in Goods Agreement Joint Committee Meeting Takes Stock of Negotiations
Get latest articles and stories on World at LatestLY. The third meeting of the ASEAN-India Trade in Goods Agreement (AITIGA) was held in the national capital from February 16-19, during which detailed discussions took place regarding the progress in the negotiations, the Ministry of Commerce and Industry said in a press release.
New Delhi [India], February 20 (ANI): The third meeting of the ASEAN-India Trade in Goods Agreement (AITIGA) was held in the national capital from February 16-19, during which detailed discussions took place regarding the progress in the negotiations, the Ministry of Commerce and Industry said in a press release.
The meeting was held in Vanijya Bhawan, New Delhi. It was co-chaired by the Additional Secretary of the Commerce Department, Rajesh Agrawal, and the Deputy Secretary General (Trade) of Malaysia, Mastura Ahmad Mustafa.
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Delegates from ASEAN countries, viz. Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, participated in the meeting.
The AITIGA was signed in 2009. In September 2022, both sides tasked the AITIGA Joint Committee to undertake the review to make the agreement more trade-facilitative and mutually beneficial, the Ministry stated.
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A total of eight sub-committees have been constituted under the AITIGA Joint Committee to undertake negotiations on different policy areas related to the Agreement. The first two meetings of the Joint Committee were held in May and August 2023.
"The Joint Committee, in its third meeting, 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. Following the intense discussions, the Joint Committee outlined the focus areas for further deliberations and updated the work programme for the review while providing necessary guidance to the sub-committees to carry forward the negotiations," the Ministry of Commerce and Industry stated.
The statement further added that the India-ASEAN trade has grown to USD 131.58 billion in 2022-23. The review of AITIGA will facilitate further expansion of trade between India and ASEAN in a balanced and sustainable manner.
Both sides are aiming to conclude the review in 2025. The fourth meeting of the AITIGA Joint Committee is planned to be held in Kuala Lumpur, Malaysia, in May 2024. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)