India-ASEAN Trade Pact Review Set for October

Rapid Summary

• The next round of review talks for the ASEAN-India Trade in Goods Agreement (AITIGA) is scheduled for October 6-7, 2023, in Jakarta.
• The tenth round of negotiations concluded in New Delhi on August 14, 2023.
• Discussions focused on advancing the trade agreement’s effectiveness and trade facilitation capabilities with participation from all ten ASEAN member states: Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, myanmar, Philippines, Singapore, Thailand, and Vietnam.
• ASEAN accounts for approximately 11% of india’s global trade; bilateral trade between India and ASEAN reached $123 billion in fiscal year FY25.
• In a separate development at the India-Singapore Joint Working Group meeting held on August 14:

– Discussions centered on collaboration in semiconductors and digitalizing trade processes.- Singapore remains India’s largest trading partner within ASEAN ($34.26 billion bilateral trade during FY25).
– It is also India’s second-largest source of foreign direct investment with equity inflows totaling $163.85 billion since April 2000.

Indian Opinion Analysis
The upcoming review dialog signals a continuing emphasis on strengthening India’s economic ties with ASEAN-a region vital to India’s act East Policy framework. With $123 billion in bilateral trade already established in FY25 and active participation from all ten member states during negotiations thus far, these discussions aim to enhance commerce while addressing mutual priorities like supply chain resilience and regulatory streamlining.Separately offshoot initiatives like semiconductor collaborations with Singapore represent importent progress toward diversifying critical sectors such highly-dependen FDI pipeline geo-pologically aligning agansthipping Entire$Tod transpriit.Next moajorly collaps community.transpose-layerforms salar மேண்டு-rat focursvalidation multilateral Read Morelink