Two-way trade between the Association of Southeast Asian Nations (ASEAN) and India reached $91.5 bn in 2021, rising by 39.2 percent year on year, it was noted at the 19th ASEAN-India Economic Ministers’ meeting held recently in Cambodia’s Siem Reap. Trade and economic ties between the two sides are starting to recover from the impact of the pandemic, it was observed.
Anupriya Patel, Indian Minister of State for Commerce and industry and Cambodian Minister of Commerce Pan Sorasak co-chaired the meeting.
The Ministers 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, according to a release by the Indian Ministry of Commerce and Industry.
They urged ASEAN and India to forge collective actions in securing a robust supply chain connectivity to maintain the flow of essential goods and services through the launching of ASEAN-India Trade in Goods Agreement (AITIGA) Upgrade Negotiations.
They also requested the AITIGA Joint Committee to expeditiously review the AITIGA.