Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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Syllabus: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests.
Why in NEWS
India and the ASEAN countries reached an agreement to review their free trade pact for goods and set a 2025 goalpost for concluding the review aimed at addressing the “asymmetry” in bilateral trade, the Commerce Ministry said.
ASEAN-India Trade in Goods Agreement (AITIGA)
- A Joint Committee of the ASEAN-India Trade in Goods Agreement (AITIGA), signed in 2009
- Deliberated on the roadmap for the review of the pact and finalised the terms of reference for the fresh negotiations
- ASEAN-India Economic Ministers’ meeting held in Indonesia on Monday.
- The AITIGA review will now be taken up at the India-ASEAN Leaders’ Summit scheduled in early September for further guidance.
- The review of the AITIGA was a long-standing demand of Indian businesses and the early commencement of the review would help in making trade facilitative and mutually beneficial
