• Recently, India and Cambodia co-chaired the 19th ASEAN-India Economic Ministers’ meeting in Cambodia.
  • The Economic Ministers or their representatives from all the 10 ASEAN countries attended the meeting.
  • The Ministers noted that trade and economic relations between ASEAN and India are starting to recover from the impact of the Covid-19 pandemic and the two-way trade between ASEAN and India reached USD 91.5 billion in 2021 increasing by 39.2% year-on-year.
  • The Ministers also took note of the recommendations made by ASEAN India Business Council (AIBC) to enhance the ASEAN India economic partnership and the activities undertaken by AIBC in 2022.
  • ASEAN India-Business Council (AIBC) was set up in March 2003 as a forum to bring key private sector players from India and the ASEAN countries on a single platform for business networking and sharing of ideas.
  • Ministers reaffirmed their commitment to take collective actions to mitigate the economic impact of the pandemic and work towards a sustainable post-Covid-19 recovery.
  • The Ministers welcomed ASEAN and India to forge collective actions in securing a robust supply chain connectivity to maintain the flow of essential goods and services through ASEAN-India Trade in Goods Agreement (AITIGA) Upgrade Negotiations, mutual recognition of Covid-19 vaccination, vaccines production, public health surveillance, and medical technologies.

ASEAN India Trade in Goods Agreement:

  • The Ministers endorsed the Scope of the Review of the AITIGA to make it more user-friendly, simple, and trade facilitative for businesses, as well as responsive to the current global and regional challenges including supply chain disruptions.
  • The Ministers also activated the AITIGA Joint Committee to undertake the review of AITIGA expeditiously.


About sree nivas

Check Also


The country has 18 percent of the world’s population, but only 4 percent of its …

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Free Updates to Crack the Exam!
Subscribe to our Newsletter for free daily updates