DFS reviews Performance of North-East RRBs (See 'Corp Brief') IISc-led Semiconductor Training Initiative records Massive Growth in Tribal Youth Participation (See 'Corp Brief') CCI approves JV between Mercuria Energy & Tata International (See 'Corp Brief') CCI approves merger of Indovida India with and into EPL Limited (See 'Corp Brief') Union Minister launches PM-AJAY Portal & AJAY Mobile App to digitize SC welfare schemes (See 'Corp Brief') A&C - SpiceJet is directed to deposit outstanding amount immediately while also applying costs: HC (See 'Legal Desk') Gadkari reviews Monsoon Preparedness for Safer Highways (See 'Corp Brief') Skymap Pharmaceuticals approved as Strategic Buyer for disinvestment of IMPCL (See 'Corp Brief') PM-WANI Ecosystem undergoes Comprehensive Transformation to enable Inclusive Digital Connectivity (See 'Corp Brief') Sales of Khadi and Village Industry Products surpasses Rs 1.87 Lakh Crore-mark (See 'Corp Brief') SARFAESI - Suit's substantive reliefs concern specific performance and enforcement of agreements, plaint cannot be rejected at threshold under Order VII Rule 11 CPC merely because SARFAESI measures are also in background: HC (See 'Legal Desk') Reddy directs Agencies to Fast-Track Pending Mining & Exploration Projects (See 'Corp Brief') Meghalaya Minister discusses STI Hubs for Tribal Communities in Northeast with MoS (See 'Corp Brief') Govt strengthening Preventive Healthcare through Yoga and Naturopathy: Jadhav (See 'Corp Brief') Gadkari reviews NH Projects in Rajasthan and HP (See 'Corp Brief') Secretary reviews Progress of Mineral Block Auctions and Operationalisation (See 'Corp Brief') FERA - Receipt by person in India of Indian currency through cheque drawn on NRE account, even if that account had been funded by foreign currency deposits, does not by itself constitute contravention of Sec 8(1): HC (See 'Legal Desk') Parcel and Logistics Services register 70% growth; Revenue Potential pegged at Rs.10,000 Crore (See 'Corp Brief') Department of Consumer Affairs holds stakeholder meeting on Different Pack Sizes for Edible Oils (See 'Corp Brief') 'Spice and Heal' Initiative can Position India as Global Wellness Leader: Jadhav (See 'Corp Brief') Competition Act - Allegations relating to use of unlicensed/private vehicles & regulatory violations is not competition law issue u/s 3 and 4 of Competition Act: CCI (See 'Legal Desk') Moratorium under the IBC (See CORP EINSICHT) NMDC launches Summer Camp for 1700 Children in Dakshin Bastar (See 'Corp Brief') Benami Act - Confiscation under Benami Act is civil consequence and distinct from prosecution: SC (See 'Legal Desk') 'Janjati Samagam' will, in coming years, gain global recognition as Kumbh of tribal communities (See 'Corp Brief') At Siliguri's 19th employment fair, 82 young people receive appointment letters (See 'Corp Brief') IBC - During subsistence of moratorium u/s 14 IBC, lessor cannot terminate subsisting lease and recover possession of leased property occupied by corporate debtor by invoking contractual breach clauses: HC (See 'Legal Desk')

Print

16th AEM: trade in 2018 grew by 9.8% between ASEAN and India

Published: Sep 10, 2019

By TIOLCORPLAWS News Service

NEW DELHI, SEPT 10, 2019: THE Minister of Commerce and Industry, Mr. Piyush Goyal and Economic Ministers from ten ASEAN Member States, today met at Bangkok in Thailand for the sixteenth AEM-India Consultations. The Consultations were co-chaired by Deputy Prime Minister and Minister of Commerce, Thailand, Jurin Laksanawisit and Minister of Railways and Commerce and Industry, Piyush Goyal.

The Ministers noted that, based on preliminary ASEAN data, two-way merchandise trade between ASEAN and India grew by 9.8 per cent from USD 73.6 billion in 2017 to USD 80.8 billion in 2018. The Ministers were also pleased to note the recovery of Foreign Direct Investment (FDI) inflows from India in 2018, amounting to USD 1.7 billion. This placed India as ASEAN's sixth largest trading partner and sixth largest source of FDI among ASEAN Dialogue Partners. According to India's preliminary data, FDI inflows into India from ASEAN in 2018 was USD 16.41 billion, approximately 36.98 per cent of total FDI flow into India.

The Ministers were pleased to note the ratification of the ASEAN-India Trade in Services Agreement by all Parties in 2018. The Ministers also noted the on-going efforts for the ratification of the ASEAN-India Investment Agreement and looked forward to the full ratification by all Parties as soon as possible. The Ministers agreed to initiate the review of the ASEAN-India Trade in Goods Agreement (AITIGA) to make the AIFTA more user-friendly, simple, and trade facilitative for businesses and to constitute a Joint Committee, as provided in Article 17 of the AITIGA, for this purpose. The Ministers tasked officials to work on the details of the review and submit an update at the 17 th AEM-India Consultations.

The Ministers commended the outcomes of the 4th India-ASEAN Expo and Summit held on 21-23 February 2019 in New Delhi, India. The Ministers noted that the event provided an ideal platform for investors, business leaders, industry captains and policy makers to enhance their engagements in further facilitating mutual trade and investment. In this regard, the ASEAN Economic Ministers encouraged for the promotion of this event to business communities in ASEAN as an effective platform for discussions, exchange of ideas, and buyer-seller matching.

The Ministers welcomed the recommendations of the ASEAN-India Business Council to further promote the potential of bilateral trade through the utilisation of ASEAN-India FTA  as well as cooperation in some areas of mutual interest such as financial technology (FinTech), connectivity, start-ups, and innovation, empowerment of youth and women, and MSMEs development. The Ministers also expressed their support for the Fourth ASEAN-India Business Summit and Business Excellence Award, which will be held in Manila in October 2019.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.