ASEAN-India Trade Agreement Meeting Held in Jakarta

The 5th ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee meeting took place in Jakarta from July 29 to August 1, 2024, marking a significant advancement in economic cooperation between ASEAN and India. Co-chaired by Rajesh Agrawal of India and Mastura Ahmad Mustafa of Malaysia, the meeting involved delegates from all ten ASEAN countries, focusing on discussions within eight sub-committees covering various trade-related issues. The third round of negotiations concluded with substantial progress reported from all sub-committees, which will guide future work. The next AITIGA Joint Committee meeting is scheduled for November 19-22, 2024, in India, as both sides aim to complete the review by 2025. The review is seen as essential for eliminating trade barriers and enhancing mutual benefits, especially given that ASEAN represents about 11% of India's global trade. India exported $41.2 billion to ASEAN and imported $80 billion in the last fiscal year, highlighting the importance of this partnership.