New Delhi, November 23 (IANS). The central government said on Saturday that India’s bilateral trade with the Association of Southeast Asian Nations (ASEAN) increased by 5.2 percent to $ 73 billion during the April-October period in the current financial year.
ASEAN, as a group, is one of India’s major trading partners, accounting for about 11 percent of India’s global trade.
According to the Ministry of Commerce and Industry, bilateral trade was worth $121 billion in the financial year 2023-24.
The 6th ASEAN-India Joint Committee and related meetings to discuss the review of the ASEAN-India Goods Trade Agreement (AITIGA) were held in the national capital from 15-22 November.
The meeting was attended by leaders and representatives of all 10 ASEAN countries, Indonesia, Vietnam, Laos, Brunei, Thailand, Myanmar, Philippines, Cambodia, Singapore and Malaysia.
The visit of ASEAN representatives to New Delhi and their presence was utilized by holding bilateral meetings with the Thai and Indonesian teams to discuss bilateral trade issues.
The chief negotiators from India and ASEAN also held a separate meeting to develop mutual understanding on the issues under discussion and the way forward.
According to a statement from the ministry, “The review of AITIGA will be a step forward towards enhancing trade with the ASEAN region in a sustainable manner. The next meeting of the AITIGA Joint Committee is scheduled in Jakarta, Indonesia in February 2025.”
There are eight sub-committees under the AITIGA Joint Committee to negotiate aspects related to market access, rules of origin, SPS measures, standards and technical regulation, customs procedure, economic and technical cooperation, trade measures and legal and institutional provisions.
–IANS
SKT/ABM
