3 days ago
Next round of India-Asean trade agreement review talks in October in Jakarta
Synopsis
India and ASEAN will continue free trade agreement review talks in Jakarta in October 2025, aiming to enhance the AITIGA's effectiveness. Bilateral trade reached USD 123 billion in 2024-25, highlighting strong economic ties. Separately, India and Singapore discussed trade and investment, focusing on priority sectors and supply chains, with Singapore being India's largest ASEAN trading partner.
IANS India's steadfast support for ASEAN Centrality and community-building efforts, as well as its active participation in ASEAN-led mechanisms and fora, came in for huge praise from ASEAN Secretary General Kao Kim Hourn during his meeting with newly-appointed Indian Ambassador Srinivas Gotru, on Wednesday. The next round of review talks for the India-Asean free trade agreement in goods will be held in October this year in Jakarta, an official statement said on tenth round of the negotiations concluded here this month (August 10-14).
The Commerce Ministry said the Joint Committee focused on advancing the ongoing review of AITIGA (Asean India trade in goods agreement) to enhance its effectiveness, accessibility, and trade facilitation remains a key trade partner for India, accounting for around 11 per cent of India's global bilateral trade reached USD 123 billion in 2024-25, reflecting the strong economic ties between the two sides and creating opportunities for enhanced cooperation in the years ahead, it said.
"The next AITIGA Joint Committee meeting is scheduled for 6-7 October 2025 at the ASEAN Secretariat in Jakarta, Indonesia, and will be hosted by Malaysia," it a separate statement, the ministry said the fourth meeting of the India-Singapore Joint Working Group on Trade and Investment (JWGTI) was held here on August focused on identifying priority sectors for greater alignment, improving logistics and supply chains, streamlining regulatory frameworks, and exploring ways to facilitate cross-border meeting reviewed ongoing collaboration in areas like the semiconductor sector and digitalisation of trade, and explored potential partnerships in skills development and capacity is India's largest trading partner within ASEAN, with total bilateral trade of USD 34.26 billion during 2024-25.
It is also India's second-largest source of foreign direct investment (FDI), with equity inflows of USD 163.85 billion (Rs 11,24,509.65 crore) between April 2000 and July 2024, accounting for about 24 per cent of India's total inflows.
