Did Piyush Goyal Discuss the ASEAN Trade Pact with the Malaysian Minister?
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Synopsis
In a crucial meeting, Commerce Minister Piyush Goyal and Malaysian Minister Tzafrul Aziz engage in discussions regarding the review of the ASEAN-India Trade in Goods Agreement (AITIGA). This dialogue aims to foster fair trade and bolster economic cooperation between India and ASEAN nations.
Key Takeaways
- Piyush Goyal held talks with Tzafrul Aziz on AITIGA.
- Emphasis on fair trade and balanced growth.
- Malaysia as India's permanent coordinator in ASEAN economic matters.
- Continued support for ASEAN-India Comprehensive Strategic Partnership.
- AITIGA has boosted trade to $121 billion in 2023-24.
New Delhi, July 10 (NationPress) Commerce Minister Piyush Goyal announced on Thursday that he had a fruitful discussion with Tzafrul Aziz, the Malaysian Minister of Investment, Trade, and Industry, where they delved into the current review of the ASEAN-India Trade in Goods Agreement (AITIGA).
"I am eager to expedite the dialogue with ASEAN member nations to promote equitable trade and balanced growth," stated Piyush Goyal in a post on X.
The minister also mentioned that discussions on the Comprehensive Economic Cooperation Agreement (CECA) between the two countries were part of the agenda.
Notably, Malaysia serves as India's permanent coordinator for economic matters within ASEAN.
This week, Prime Minister Narendra Modi also had a meeting with his Malaysian counterpart, Anwar bin Ibrahim, during the BRICS summit held in Rio de Janeiro, where they touched upon the review of the ASEAN-India Free Trade Agreement.
According to an official statement, PM Modi extended his congratulations to Malaysia for its effective leadership in ASEAN and expressed appreciation for its ongoing support in enhancing the ASEAN-India Comprehensive Strategic Partnership, including the prompt and successful completion of the ASEAN-India FTA review.
The AITIGA is a trade agreement involving the ten ASEAN member countries (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam) and India. Its primary goal is to minimize tariffs and non-tariff barriers to facilitate trade.
Signed in 2009, the agreement was implemented on January 1, 2010, as part of a broader Comprehensive Economic Cooperation Agreement (CECA) structure.
While AITIGA emphasizes trade in tangible goods, it does not encompass services, which are addressed in a separate agreement signed in 2014.
Since its inception, AITIGA has significantly boosted trade between India and ASEAN, with bilateral trade reaching $121 billion in 2023-24.
The review of AITIGA is seen as a crucial step towards fostering deeper economic integration between India and ASEAN, with expectations of further enhancing trade and investment prospects.
Point of View
It is clear that the meeting between Piyush Goyal and Tzafrul Aziz reflects India's commitment to strengthening ties with ASEAN. The ongoing review of the AITIGA is pivotal for promoting fair trade and enhancing economic cooperation in the region. This dialogue not only strengthens bilateral relationships but also positions India as a key player in ASEAN's economic framework.
NationPress
09/09/2025
Frequently Asked Questions
What is AITIGA?
AITIGA stands for the ASEAN-India Trade in Goods Agreement, a pact aimed at reducing tariffs and non-tariff barriers to facilitate trade between ASEAN member states and India.
When was AITIGA signed?
AITIGA was signed in 2009 and came into effect on January 1, 2010.
Who are the ASEAN member states?
The ASEAN member states include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
What was discussed in the meeting between Piyush Goyal and Tzafrul Aziz?
The meeting focused on the review of AITIGA and the Comprehensive Economic Cooperation Agreement (CECA) between India and Malaysia.
How has AITIGA impacted trade between India and ASEAN?
AITIGA has significantly increased trade, with bilateral trade reaching $121 billion in 2023-24.
