ASEAN, India announce next trade agreement review talks in Feb 2025
(VOVWORLD) - India and ASEAN will hold the next round of talks for the review of their free trade agreement in goods, known as AITIGA, in February next year in Jakarta, Indonesia, according to an official statement from the Indian Commerce Ministry.
 A cargo port in Chennai, India (Photo: AFP/VNA) |
The announcement follows the completion of the fourth round of negotiations earlier this month.
The review of the AITIGA will be a step forward in enhancing trade with the ASEAN region in a sustainable manner, the commerce ministry said.
There are eight sub-Committees under the AITIGA Joint Committee to negotiate aspects in market access, rules of origin, standards and technical regulations, customs procedures, economic and technical cooperation, trade remedies, and legal and institutional provisions.
The AITIGA was signed in 2009, and New Delhi is asking for a review of the agreement to eliminate barriers and misuse of the trade pact.
ASEAN as a group is one of the major trade partners of India with about an 11% share in India's global trade.
The bilateral trade during the 2024 fiscal year was 121 billion USD and reached 73 billion USD during April-October this year with a 5.2% growth rate.