Next round of India-ASEAN goods pact review in October
The tenth round of the negotiations concluded in New Delhi from August 10-14.
The commerce and industry ministry said that the Joint Committee focused on advancing the ongoing review of the pact to enhance its effectiveness, accessibility, and trade facilitation capabilities. 'The discussions built on the progress achieved through eight active rounds of negotiations,' it said, adding that
delegates from all ten ASEAN Member States — Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam — participated.
ASEAN accounts for around 11% of India's global trade.'Bilateral trade reached $123 billion in FY25, reflecting the strong economic ties between the two sides and creating opportunities for enhanced cooperation in the years ahead,' it said.In a separate statement, the ministry said that India and Singapore reviewed the ongoing collaboration in semiconductor sector and digitalisation of trade, and explored potential partnerships in skills development and capacity building.The issues were taken up at the fourth meeting of the India-Singapore Joint Working Group on Trade and Investment (JWGTI) which was held on August 14 in New Delhi.
'The discussions focused on identifying priority sectors for greater alignment, improving logistics and supply chains, streamlining regulatory frameworks and exploring ways to facilitate cross-border trade,' the ministry said. Singapore is India's largest trading partner within ASEAN, with total bilateral trade of $34.26 billion during FY25. It is also India's second-largest source of foreign direct investment with equity inflows of $163.85 billion between April 2000 and July 2024, accounting for about 24% of India's total inflows.
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