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

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

About ITIGA (Asean-India Goods Trade Agreement)

  • 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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