Fourth Meeting of the ASEAN-India Goods Trade Agreement Joint Committee

by Study Affairs · May 13, 2024

The 4th meeting of the Joint Committee to Review AITIGA (ASEAN-India Goods Trade Agreement) has been held in Putrajaya, Malaysia from 7-9 May 2024.

Key Points

The meeting was co-chaired by Shri Rajesh Agarwal, Additional Secretary, Department of Commerce, India and Ms Mastura Ahmad Mustafa, Deputy Secretary General (Trade), Ministry of Investment, Trade and Industry of Malaysia.
Representatives of India and all 10 ASEAN countries participated in this meeting.
Discussions to review AITIGA to make it more convenient and profitable for businesses to do business began in May 2023.
The joint committee carrying out the review work has met four times so far.
The terms of reference and negotiating framework for the review talks were finalized by the Joint Committee in its first two meetings.
Talks were initiated from the third meeting to review AITIGA on 18-19 February 2024 in New Delhi.
A total of 8 sub-committees have been formed to address issues in various policy areas of the Agreement in the review and 5 of these sub-committees have started their discussions.
All 5 sub-committees reported the results of their discussions to the 4th AITIGA Joint Committee.
The meeting of the Sub-Committee related to Sanitation and Phytosanitation was earlier held on May 3, 2024. The Joint Committee provided necessary guidance to the sub-committees.
ASEAN is one of India’s major trading partners with a share of 11 percent in India’s global trade.
Bilateral trade during the year 2023-24 stood at US $ 122.67 billion.
Upgradation of AITIGA will further boost bilateral trade.
Held in Jakarta, Indonesia for the fifth Joint Committee meeting from 29-31 July 2024.

It is an important trade agreement that was signed by India and ASEAN (Association of South-East Asian Nations) in 2009.
This agreement focuses on facilitating trade and reducing trade barriers.
Under this, import duty on many products between India and ASEAN countries has been gradually reduced.
It is not limited to trade in goods only but also covers trade in services.
This makes it easier for investors to invest in India and ASEAN countries.
It also promotes economic cooperation in areas other than trade and investment.
The objective of this agreement is to promote free trade and strengthen regional integration between India and ASEAN countries.

ASEAN (Association of Southeast Asian Nations)

Established: August 8, 1967
Member countries: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.
Objective: To promote regional peace, stability and prosperity, enhance cooperation.
Headquarters: Indonesia, Jakarta
Motto: ‘One Vision, One Identity, One Community’

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