Asean-India Trade in Goods Agreement Pdf
The ASEAN-India Trade in Goods Agreement (AITIGA) is a comprehensive free trade agreement signed between ASEAN and India in 2009. This agreement aims to promote trade and investment between the two regions by reducing trade barriers and enhancing economic cooperation.
The AITIGA is a crucial agreement that has a significant impact on the economies of Southeast Asia and India. It covers various sectors, including agriculture, automotive, chemicals, electronics, machinery, and textiles. The agreement eliminates or reduces tariffs on trade in goods, thereby making trade between ASEAN and India more accessible and more cost-effective.
The AITIGA is available in PDF format and can be accessed online. The document contains all the details of the agreement, including its objectives, scope, and the rules of origin. It also outlines the commitments made by both ASEAN and India, such as the gradual elimination of tariffs and the adoption of non-tariff measures to facilitate trade.
One of the notable provisions of the AITIGA is the establishment of a dispute settlement mechanism. This mechanism provides an avenue for resolving disputes that may arise from the interpretation or implementation of the agreement. This mechanism helps to ensure that the AITIGA is implemented effectively and that both regions benefit from the agreement.
Since the signing of the AITIGA, trade between ASEAN and India has increased significantly. In 2020, ASEAN was India`s fourth-largest trading partner, while India was ASEAN`s eighth-largest trading partner. However, there is still room for growth, and both regions can benefit further from increased cooperation and trade.
In conclusion, the ASEAN-India Trade in Goods Agreement is a crucial document that promotes trade and investment between ASEAN and India. The agreement`s provisions help to eliminate or reduce trade barriers and establish a framework for resolving disputes. With the AITIGA in place, there is potential for increased economic cooperation and growth between ASEAN and India.