Coal Output surges as Captive and Commercial Mines Perform Strongly (See 'Corp Brief') National Textiles Ministers' Conference to be held in Guwahati (See 'Corp Brief') First Mountain Tunnel breakthrough achieved in Bullet Train Project at Palghar: Vaishnaw (See 'Corp Brief') Veep to preside over inaugural function of Siddha Day celebrations in Chennai (See 'Corp Brief') Scheduled Commercial Banks can also become sponsors of PFs (See 'Corp Brief') MNRE assures full support to IREDA in its growth journey (See 'Corp Brief') IBC - Non- stamping or insufficient stamping of one of documents relied upon by creditor does not impede initiation of insolvency resolution process, which differs from enforcement action: NCLT (See 'Legal Desk') MoD records significant progress in implementing wide-ranging reforms (See 'Corp Brief') Lower CNG, PNG Prices to ease household and transport fuel costs: Govt (See 'Corp Brief') IBC - Penalty can be levied if lapses demonstrated non-compliance with statutory and regulatory obligations incumbent on IP, undermining interests of stakeholders and integrity of insolvency process: IBBI (See 'Legal Desk') DFS successfully concludes nationwide campaign - Your Money, Your Right (See 'Corp Brief') Chouhan on a three-day visit to Maharashtra (See 'Corp Brief') DoP & SIDBI sign MoU for Contact Point Verification of Informal Micro Enterprises (See 'Corp Brief') Competition Law - Practice of tying the sale of urea with other fertilizer products amounts to agreement that causes or is likely to cause an appreciable adverse effect on competition in India, thereby contravening Sec 3 of Competition Act: CCI (See 'Legal Desk') NICDC Logistics Data Services completes 10 Years of Operations in Logistics Data and Digital Systems (See 'Corp Brief') PM to inaugurate exposition of sacred Piprahwa Relics on 3rd Jan, 2026 (See 'Corp Brief') WAVES Bazaar, One Stop Portal for Showcasing India's Creative Talents (See 'Corp Brief') Competition Law - Control over DCE compatibility & restrictive contractual conditions could effectively make exhibitors/producers captive customers of specific post-production processors, harming competition: CCI (See 'Legal Desk') We will be able to run Vande Bharat train through Mangaluru route: Vaishnaw (See 'Corp Brief') President of India to confer AI Certificates (See 'Corp Brief') Negotiable Instruments Act, 1881 - Summoning order quashed where complaint lacks specific averments regarding petitioner's direct involvement in issuance of dishonored cheques: HC (See 'Legal Desk') DFS Secy highlights key initiatives for deepening digitisation of tribunals (See 'Corp Brief') Framework for professionalized Sports Governance being constructed (See 'Corp Brief') Negotiable Instruments Act, 1881 - merely being Director in company is per se not enough to establish vicarious liability under Section 141 of the Act, without clear allegations of role in company's affairs: HC (See 'Legal Desk') NHAI signs MoU with National Test House to Strengthen Quality Assurance in Highway Projects (See 'Corp Brief') PMLA - Fact that property is retransferred to the beneficial owner after completion of purpose for which it was given to benamidar, provisions of PBPT Act are attracted and it does not exonerate any party to benami transaction: SAFEMA (See 'Legal Desk') DoT extends Pro-Tem Security Certification Scheme for two years from 01-01-2026 (See 'Corp Brief') PMLA - Even if predicate offences were not directly linked to appellants, ingredients of money laundering under PMLA could still apply as per settled legal precedent: SAFEMA Tribunal (See 'Legal Desk') PMLA - Attachments of even bank balances can be sustained if enforcement agency satisfies statutory scheme and evidentiary requirements: SAFEMA Tribunal (See 'Legal Desk') Joshi releases Indian Standard for Electric Agricultural Tractor (See 'Corp Brief') IPR - Generic or commonly descriptive word can never become trade marks on their own as they never acquire distinctiveness or a secondary meaning: HC (See 'Legal Desk') NTH signs MoU with DRDO's DMSRDE for research, testing and training collaboration (See 'Corp Brief') IPR - Kohinoor's trademark registrations in Delhi and marketing agreement executed between parties in Delhi were sufficient to vest territorial jurisdiction in Court: 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.