{"id":295580,"date":"2024-05-14T17:47:45","date_gmt":"2024-05-14T12:17:45","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=295580"},"modified":"2024-05-15T08:32:10","modified_gmt":"2024-05-15T03:02:10","slug":"asean-india-trade-in-goods-agreement-joint-committee","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/asean-india-trade-in-goods-agreement-joint-committee\/","title":{"rendered":"ASEAN-India Trade in Goods Agreement Joint Committee"},"content":{"rendered":"<p style=\"text-align: justify;\">Source-This post on <strong>ASEAN-India Trade in Goods Agreement Joint Committee<\/strong> is based on the article <strong><a href=\"https:\/\/pib.gov.in\/PressReleaseIframePage.aspx?PRID=2020351\" target=\"_blank\" rel=\"noopener\">&#8220;4th Meeting of ASEAN-India Trade in Goods Agreement Joint Committee&#8221;<\/a><\/strong> published in \u201cPIB\u201d on 13th May 2024.<\/p>\n<h2 style=\"text-align: justify;\">Why in the News?<\/h2>\n<p style=\"text-align: justify;\">The 4th Joint Committee meeting to review the ASEAN-India Trade in Goods Agreement (AITIGA) took place in Putrajaya, Malaysia, from May 7th to May 9th, 2024.<\/p>\n<h2 style=\"text-align: justify;\">About ASEAN-India Trade in Goods Agreement<\/h2>\n<p style=\"text-align: justify;\">1. The ASEAN-India Trade in Goods Agreement represents a <span style=\"color: #ff0000;\">trade accord between India and the ten member states of ASEAN.<\/span><\/p>\n<p style=\"text-align: justify;\">2. It was signed during the <span style=\"color: #ff0000;\">7th ASEAN Economic Ministers-India Consultations<\/span> held in <span style=\"color: #ff0000;\">Bangkok, Thailand, in 2009<\/span>. This agreement has been pivotal in <span style=\"color: #ff0000;\">fostering economic cooperation.<\/span><\/p>\n<h2 style=\"text-align: justify;\">Key Features of the Agreement<\/h2>\n<p style=\"text-align: justify;\">1. The ASEAN-India Free Trade Agreement officially came into <span style=\"color: #ff0000;\">effect in 2010.<\/span><\/p>\n<p style=\"text-align: justify;\">2. It primarily focuses on<span style=\"color: #ff0000;\"> facilitating trade in physical goods and products<\/span> between the participating nations.<\/p>\n<p style=\"text-align: justify;\"><strong>3. Components of AIFTA: <\/strong><\/p>\n<p style=\"text-align: justify;\"><strong>i) Trade in Goods Agreement:<\/strong> It <span style=\"color: #ff0000;\">entered into force on January 1, 2010<\/span>. It aims to progressively reduce and eliminate duties on 76.4% of goods traded between ASEAN member states and India.<\/p>\n<p style=\"text-align: justify;\"><strong>ii) Trade in Services Agreement:<\/strong> It was <span style=\"color: #ff0000;\">signed in November 2014<\/span>. It covers provisions related to transparency, domestic regulations, recognition, market access, national treatment, and dispute settlement.<\/p>\n<p style=\"text-align: justify;\"><strong>iii) Investment Agreement:<\/strong> It was also signed in <span style=\"color: #ff0000;\">November 2014<\/span>. It ensures fair and equitable treatment for investors, non-discriminatory treatment in expropriation or nationalization, and fair compensation.<\/p>\n<p style=\"text-align: justify;\"><strong>UPSC Syllabus: International relations<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source-This post on ASEAN-India Trade in Goods Agreement Joint Committee is based on the article &#8220;4th Meeting of ASEAN-India Trade in Goods Agreement Joint Committee&#8221; published in \u201cPIB\u201d on 13th May 2024. Why in the News? The 4th Joint Committee meeting to review the ASEAN-India Trade in Goods Agreement (AITIGA) took place in Putrajaya, Malaysia,&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/asean-india-trade-in-goods-agreement-joint-committee\/\">Continue reading <span class=\"screen-reader-text\">ASEAN-India Trade in Goods Agreement Joint Committee<\/span><\/a><\/p>\n","protected":false},"author":10366,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,164],"tags":[11872,3590],"class_list":["post-295580","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-international-relations-daily-factly-articles","tag-9pm-daily-factly","tag-pib","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/295580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10366"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=295580"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/295580\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=295580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=295580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=295580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}