India-Asean officials to meet next week in Jakarta to resume goods trade pact review
New Delhı, October 2 (PTI) Trade Negotiators from India and the 10 -national ASEAN BLOK will be gathered in Jakarta on Monday to highlight the review of the Mal Trade Agreement.
The authority said that the studies on the review of the Trade Agreement in the ASEAN-India goods are going well, but on October 27, the 22nd ASEAN-India Summit in Kuala Lumpur was slightly far from the outcome for any announcement.
11. After the investigation round (October 6-7), the top leaders will be aware of the progress and call their instructions.
He continued: “There are still ongoing discussions. There are some progress in the last 3-4 months. The effort on the ASEAN side is to see that there are important things to be reported until the summit took place.
“We will not be able to close the review because the negotiations are not at that stage.” He said.
The 10th round was held between 10-14 August.
The examination process is managed by a joint committee with eight sub -committees, each dealing with a particular subject.
Customs procedures and trade facilitator (SC-CPTF), legal and institutional issues (SC-LII), National Treatment and Market Access (SC-NTMA), Sıhhi and Phytosaniter (SC-SPS) and origin rules (SC-ROO).
There is also a sub-committee on standards, technical regulations and compliance assessment procedures (SC-Stracap) and Trade Solutions (SC-TR).
The review of the agreement is a long -standing demand of the Indian industry, and India is waiting for an upgraded agreement that will detect existing asymmetries in bilateral trade and make trade more balanced and sustainable.
ASEAN members include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.
In 2009, a free trade agreement was signed in the goods between India and 10 -national block ASEAN (Association of Southeast Asian Nations).
The ASEAN Trade Agreement entered into force in January 2010. In August 2023, both sides announced a complete review of the current goods agreement until 2025.
As a group, ASEAN is one of India’s largest trade partners with a share of about 11 percent in the country’s global trade.
The bilateral trade reached US $ 123 billion in 2024-25. In total, India’s exports throughout the year were only 96 billion US dollars and imports were 84.15 billion US dollars.
