ASEAN Countries Reaffirm Commitment To Take Collective Actions In Mitigating Impact Of Covid-19

Piyush Goyal, Minister of Commerce and Industry & Railways and H.E. Tran Tuan Anh, Minister of Industry and Trade of Vietnam co-chaired the 17th ASEAN-India Economic Ministers Consultations held virtually on 29th August 2020. The meeting was attended by the Trade Ministers of all the 10 ASEAN countries Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. The Ministers reaffirmed their commitment to take collective actions in mitigating the economic impact of the pandemic and resolved to ensure macroeconomic and financial stability and resilient supply chain connectivity, particularly the unimpeded flow of essential goods and medicines in the region, in compliance with the WTO rules.

The Ministers' discussion centred on the review of the ASEAN India Trade in Goods Agreement (AITIGA). The Ministers appreciated the growing trade ties and deepening economic engagement between two parties. Initiating the discussion, Goyal highlighted that the Free Trade Agreement has to be mutually beneficial and a win-win for all sides. Minister Goyal also stated that India and ASEAN shared a close friendship, strongly tied with historical, cultural and traditional bonds and this relationship will continue to grow for the prosperity of the people of India and the ASEAN countries.

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