6th Meeting of ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee

Source: This post on 6th Meeting of ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee has been created based on the article “6th meeting of ASEAN-India Trade in Goods Agreement Joint Committee held in New Delhi” published in PIB on 25th November 2024.

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Recently, the 6th Meeting of ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee was held in New Delhi.

About 6th Meeting of ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee

1. Discussions were conducted across eight Sub-Committees under the AITIGA Joint Committee, focusing on topics such as market access, rules of origin, SPS measures, standards and technical regulations, customs procedures, economic and technical cooperation, trade remedies, and legal and institutional provisions.

2. Indian and ASEAN Chief Negotiators also held a separate meeting to establish mutual understanding and plan the way forward on key topics.

ASEAN-India Trade in Goods Agreement (AITIGA)

1. The ASEAN-India Trade in Goods Agreement (AITIGA) is a key trade pact signed between the Association of Southeast Asian Nations (ASEAN) and India.

2. It aimed at strengthening economic ties and facilitating the flow of goods across borders.

3. It was signed on 13 August 2009 in Bangkok, Thailand. The agreement came into effect in January 2010.

Objectives of AITIGA

1. Boosting Trade and Economic Integration: AITIGA seeks to reduce barriers to trade and investment, fostering economic integration between the ASEAN region and India.

2. Enhancing Market Access: By lowering or eliminating tariffs on a wide range of products, the agreement enables better market access for goods originating from ASEAN countries and India.

3. Promoting Mutual Growth: The agreement is designed to support the economic development of both parties by leveraging their complementary strengths and resources.

Key Features of AITIGA

1. Tariff Reduction: Under the agreement, India and ASEAN member states committed to gradually reducing or eliminating tariffs on over 90% of goods traded.

2. Tariff liberalization is categorized into different tracks: fast-track reduction, normal track, and sensitive track, tailored to ensure a balance between liberalization and protecting sensitive industries.

3. Rules of Origin: Goods must meet specific criteria to qualify for preferential treatment, ensuring they are substantially produced or processed within the participating countries.

4. Comprehensive Coverage: The agreement covers trade in goods across various sectors, including agriculture, electronics, chemicals, textiles, and machinery.

Special Provisions for Least Developed Countries (LDCs): Cambodia, Laos, Myanmar, and Vietnam receive more flexible timelines and special concessions to help them integrate into the trade framework.

Read more: India-ASEAN Relations- Cooperation and Challenges

UPSC Syllabus: International relations