Final Day Of AEM To Focus On AITIGA's New Package

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, Sept 26 (Bernama) -- India will endeavour to reduce its surging trade deficit with Southeast Asian countries when they meet at the 22nd ASEAN Economic Ministers (AEM)-India Consultations here today.

ASEAN has offered a new package of goods under the ASEAN-India Trade in Goods Agreement (AITIGA) at the 57th AEM Meetings and Related Meetings, chaired by Investment, Trade and Industry (MITI) Minister Tengku Datuk Seri Zafrul Abdul Aziz.

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According to reports, the new package is aimed at addressing trade imbalances and accelerating the review process following concerns over Delhi’s widening trade deficit with ASEAN.

The report said India aims to establish a common landing zone for negotiations and unlock new opportunities in sectors such as electronics and pharmaceuticals.

MITI Deputy Secretary-General (Trade) Mastura Ahmad Mustafa reportedly said the consultation was also intended to reach key decisions that will help ASEAN and India achieve a substantial conclusion of the review process before year-end.

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Besides the meeting with India, today’s schedule also features the fourth AEM Troika Open-Ended Dialogue with Switzerland, held over a breakfast meeting with Swiss State Secretary Helene Budliger Artieda.

There would also be the 14th AEM-Canada Consultation as well as the World Economic Forum (WEF)-Business Dialogue on ASEAN’s Digital Economy 2025 during the networking lunch for AEM.

The WEF Business Dialogue is expected to bring together key stakeholders to explore best practices, share knowledge and provide input to policymakers on building a sustainable and inclusive ASEAN, in line with Malaysia’s chairmanship theme.

Later in the day, AEM would have meetings with trade officials from Russia and Hong Kong.

With the theme “Inclusivity and Sustainability”, the AEM hosted some 20 meetings and side programmes.

This marks the fifth time Malaysia has assumed the ASEAN chairmanship since joining the regional bloc, following its previous terms in 1977, 1997, 2005 and 2015.

-- BERNAMA