‘ASEAN-India’ prepares to announce to certify the scope of the AITIGA review agreement and set up JC to open negotiations in Sept.
Mrs. Oramon Sapthaweetham Director-General of the Department of International Trade Negotiations Revealed the results of the 35th ASEAN-India Senior Officials Meeting on June 10 in Jakarta, Indonesia. and through a remote conferencing system that The meeting urged member states to undertake internal processes to certify documents on the scope of the review of the ASEAN-India Trade in Goods Agreement (AITIGA) and approve the proposals at the ASEAN-India Economic Ministers Meeting. 19. To certify the scope of review of the AITIGA Agreement and establish a Joint Committee (JC) to oversee the review of the AITIGA Agreement.
Mrs. Oramon said After ASEAN and India concluded the scope of review of the AITIGA Agreement on March 14, Both sides rushed forward to achieve the AITIGA scope certification as soon as possible. The meeting agreed that the ASEAN and Indian Economy Ministers Announcing the endorsement of the AITIGA Agreement Review Scope, establishing a JC, and announcing the formal start of AITIGA Review Negotiations at the 19th Economic Ministers’ Meeting in Sept.
The meeting also discussed the structure of the JC and its working groups. Under the ASEAN-India Free Trade Agreement It consists of three agreements, namely the Trade in Goods, Trade in Services and Investment Agreements, with Thailand emphasizing the aim of the AITIGA Agreement to be open to market access. modern reduce trade barriers and will have to facilitate more trade business To be an important mechanism to increase trade between the two sides with a combined consumer market size of more than 2 billion people.
In 2021, ASEAN-India trade was worth $91,491.77 million (-39.26%) from the previous year. ASEAN exports to India worth 53,749.77 million US dollars. and imported from India worth 37,742 million US dollars. The trade between Thailand and India is valued at $14.940.49 million (+52.52%), with Thailand exporting to India worth US$ 8,534.10 million. This is the exercise of rights under the agreement worth US$4,377.29 million, representing 51.29% of the total export value to India. Major exports include televisions, copper wire, crude oil, chemicals, and automobiles and components.
and Thailand imported from India worth 6,406.39 million US dollars. which was exercised under the agreement worth $748.36 million, accounting for 11.68% of the total value of imports from India. The main imported products are fresh fruit, air conditioning components. Automotive and components, steel and transformers