India, ASEAN talk changes for trade in goods agreement
The ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee held its third meeting from February 16-19 in New Delhi to review and discuss changes to the agreement.
Delegates at the meeting of the AITIGA in New Delhi. (Photo: pib.gov.in)
New Delhi (VNA) – The ASEAN-India Trade in GoodsAgreement (AITIGA) Joint Committee held its third meeting from February 16-19in New Delhi to review and discuss changes to the agreement.
The AITIGA was signed in 2009. In September 2022, both sides tasked theAITIGA Joint Committee to undertake the review to make the agreement moretrade-facilitative and mutually beneficial.
A total of eight sub-committees have been constituted underthe AITIGA Joint Committee for undertaking negotiations on different policyareas related to the agreement.
The first two meetings of the Joint Committeewere held in May and August 2023.
At its third meeting, the committee held detailed discussionsand took stock of the progress in the negotiations. The sub-committees reported the progress andoutcome of their discussions related to market access, rules of origin andstandards, technical regulations and conformity assessment procedures to thejoint committee.
After discussions, the committee outlined the focus areas forfurther deliberations and updated the work programme for the review whileproviding necessary guidance to the sub-committees to carry forward thenegotiations.
India-ASEAN trade has grown to 131.58 billion USD in the2022-23 fiscal year. The review of AITIGA will facilitate further expansion oftrade between the two sides in a balanced and sustainable manner. Both sidesare aiming to conclude the review in 2025. The 4th meeting of the AITIGA JointCommittee is planned to be held in Kuala Lumpur, Malaysia in May 2024./.
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Delegates at the meeting of the AITIGA in New Delhi. (Photo: pib.gov.in)
