Nepal govt opens energy sector for private investments, Sri Lanka ranked 67th in Global Peace Index and second in South Asia, The Amarnath Yatra will begin on July 3 and conclude on 28th August, Meghalaya: NPP leader James Sangma elected unopposed for Rajya Sabha,

India seeks to Fast-Track ASEAN trade pact review:Goyal

Union Commerce and Industry Minister Piyush Goyal on Thursday said India is committed to expediting the review of its trade agreement with the Association of Southeast Asian Nations (ASEAN), with an aim to create a more balanced and sustainable economic partnership.Speaking after a bilateral meeting with Malaysian Minister of Investment, Trade and Industry T Zafrul Aziz, Goyal highlighted India’s intent to fast-track discussions on the ongoing review of the ASEAN-India Trade in Goods Agreement (AITIGA). Malaysia is the designated permanent coordinator for India within ASEAN on economic matters.

“Had a productive meeting with TzafrulAziz, Malaysian Minister of Investment, Trade & Industry. Malaysia is India's permanent coordinator from ASEAN on economic matters,” Goyal wrote in a post on X (formerly Twitter). “Looking forward to fast-tracking discussions with ASEAN Member States to ensure fair trade and balanced growth.”
The two ministers also discussed the Comprehensive Economic Cooperation Agreement (CECA) between India and Malaysia, aiming to strengthen bilateral trade ties further.
The review of AITIGA, originally signed in 2009 and implemented in 2010, has been a long-standing demand from Indian industry, which has raised concerns about the current trade imbalances and asymmetries that favour ASEAN countries. In August 2023, both India and ASEAN agreed to undertake a complete review of the goods agreement by 2025.
Industry stakeholders in India have been seeking stronger safeguards and reforms to ensure reciprocal market access and fair competition. The goal of the ongoing review is to modernise the pact, eliminate structural disadvantages, and improve the terms of trade for both sides.The ASEAN bloc, which includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, is a key trade partner for India. Efforts to upgrade the agreement reflect India’s broader push to recalibrate trade agreements and strengthen economic resilience.

(Business Correspondent)


Newsinc24 is now on telegram. Click here to join our channel @newsinc24 and stay updated with the latest news from politics, entertainment and other fields.

Related Items

  1. India lodges strong protest with Rubio on killing of 3 Indian Sailors

    Full Story

  1. European weapons used to attack India, Jaishankar's clear message to West

    Full Story

  1. India’s retail inflation rises to 3.93% in May as food prices accelerate

    Full Story

My Cartoon


image1


Photos

Food & Lifestyle

Avocado: A heart-smart ingredient worth adding to your plate

Avocado is also an excellent source of dietary fiber. Including it in your meals can contribute significantly to your daily fiber intake. 

Read More

Crime

IDFC First Bank-AU Finance Bank fraud case: CBI searches 6 premises

The CBI has conducted searches at six premises in connection with the ongoing investigation into the IDFC First Bank and AU Finance fraud case..

Read More

Opinion

Manufactured Panic: When fear becomes a business model

Perhaps the most overlooked example of anxiety-driven consumerism lies in the modern obsession with expiry dates.

Read More

Credibility Matters at Newsinc24.com because it is a website that gives you fast and accurate news coverage. It provides news related to politics, astrotalk, business, sports as well as crime. Also it has book promotion too. We known for our credibity. You can contact us for your querries on our email address. And, If you want to know more about us, then check the relevant pages for this purpose.