India and ASEAN Leaders Meet in Jakarta to Boost Trade
The 5th meeting of the ASEAN-India Trade in Goods Agreement (AITIGA) joint committee was held at the ASEAN Secretariat in Jakarta, Indonesia, from July 29 to August 1. The meeting was co-chaired by Rajesh Agrawal, Additional Secretary of the Department of Commerce, India, and Mastura Ahmad Mustafa, Deputy Secretary General (Trade) of the Ministry of Investment, Trade & Industry, Malaysia. Representatives from all ten ASEAN countries and India also attended the meeting.
The AITIGA Joint Committee began discussions to review AITIGA in May 2023. After finalizing its Terms of Reference and Negotiating Structure, the AITIGA JC and its Sub-Committees started negotiations in February 2024. The first two rounds of negotiations were held in February 2024 in New Delhi and May 2024 in Putrajaya, Malaysia.
During the third round of negotiations in Jakarta, Indonesia, all eight Sub-Committees focused on ‘National Treatment and Market Access’, ‘Rules of Origin’, ‘Standards, Technical Regulations and Conformity Assessment Procedures’, ‘Sanitary and Phytosanitary’, ‘Legal and Institutional Issues’, ‘Customs Procedures and Trade Facilitation’, ‘Trade Remedies’, and ‘Economic and Technical Cooperation’. They engaged in substantive discussions and made significant progress.
All Sub-Committees reported their discussion outcomes to the 5th AITIGA JC, which then provided further guidance for their future work. On the sidelines of the 5th AITIGA JC meeting, the Indian delegation leader held bilateral meetings with counterparts from Malaysia, Singapore, Indonesia, and Vietnam to develop a common understanding of the issues being discussed in the AITIGA review. Separate meetings were also held with ASEAN Secretary General Dr. Kao Kim Hourn and ASEAN Deputy Secretary General Satvinder Singh to explore ways to enhance economic cooperation between India and ASEAN through the AITIGA review.
ASEAN is a key trade partner for India, accounting for approximately 11% of India’s global trade. The review of AITIGA, originally signed in 2009, is expected to create further opportunities for businesses on both sides to enhance India-ASEAN trade. The next meeting of the AITIGA Joint Committee is scheduled to be held in India from November 19 to 22.
Doubts Revealed
ASEAN -: ASEAN stands for the Association of Southeast Asian Nations. It is a group of 10 countries in Southeast Asia that work together to improve their economies and solve common problems.
Jakarta -: Jakarta is the capital city of Indonesia, a country in Southeast Asia. It is a big city where important meetings and events often take place.
Trade in Goods Agreement -: A Trade in Goods Agreement is a deal between countries to make it easier to buy and sell products with each other. It helps reduce taxes and other barriers to trade.
Rajesh Agrawal -: Rajesh Agrawal is a representative from India who helps in making trade deals with other countries. He co-chaired the meeting in Jakarta.
Mastura Ahmad Mustafa -: Mastura Ahmad Mustafa is a representative from Malaysia, another country in Southeast Asia. She also co-chaired the meeting in Jakarta.
Bilateral meetings -: Bilateral meetings are discussions between two countries. In this case, India had separate talks with some ASEAN countries to improve their economic cooperation.