Real Progress On AITIGA, ASEAN Aims To Conclude Agreement By Year-end -- PM Anwar

By Zufazlin Baharuddin

KUALA LUMPUR, Oct 26 (Bernama) -- The ASEAN-India Trade in Goods Agreement (AITIGA) has seen real progress, with ASEAN committed to concluding the agreement by the end of the year.

Prime Minister Datuk Seri Anwar Ibrahim said ASEAN leaders are pleased to continue their discussions and cooperation with India as both sides advance the ASEAN-India Plan of Action (2026-2030).

“We want to conclude the AITIGA by this year.  So there has been some real progress, I must say, not only for Malaysia,” he said in his opening remarks at the 22nd ASEAN-India Summit today.

The AITIGA, which was signed in 2009, has been under review since 2023.

AITIGA aims to achieve the free flow of goods between ASEAN nations and India, resulting in fewer trade barriers and deeper economic linkages, lower business costs, increased trade, a larger market, and economies of scale for businesses.

Anwar said ASEAN-India dialogue relations remain a force for stability and mutual prosperity, and with India’s economic advancements across various fields, it will benefit both the bloc and the country.

Besides, Anwar said Malaysia has always had a special relationship with India, partly due to its large ethnic Indian community and also through trade, investment and university ties.

Indian Prime Minister Narendra Modi attended the 22nd ASEAN-India Summit virtually. The summit was held alongside the 47th ASEAN Summit and Related Summits hosted by Malaysia from Oct 26 to 28 at the Kuala Lumpur Convention Centre.

Philippine President Ferdinand Marcos Jr acted as the country coordinator for ASEAN-India dialogue relations.

India became ASEAN’s dialogue partner in 1996, with bilateral trade increasing to USD106.83 billion (USD1 = RM4.22) in 2024, up from USD100.72 billion in 2023. 

However, foreign direct investment from India to ASEAN fell 34.97 per cent to USD3.31 billion in 2024, from USD5.09 billion in 2023.

-- BERNAMA