India Reaffirms ASEAN As Cornerstone Of Its Act East Policy
By Nurunnasihah Ahmad Rashid
KUALA LUMPUR, Sept 26 (Bernama) -- India reaffirmed that ASEAN remains a cornerstone of its Act East policy and Indo-Pacific vision, while expressing concern over the slow pace of the ASEAN-India Trade in Goods Agreement (AITIGA) review.
India’s Minister of State for Commerce and Industry, Jitin Prasada, in his opening remarks at the 22nd ASEAN Economic Ministers (AEM)-India Consultation, highlighted the synergy between the ASEAN Outlook on the Indo-Pacific and the Indo-Pacific Oceans Initiative, saying it augurs well for the region.
He said India has achieved 100 per cent implementation of the ASEAN-India Plan of Action 2021–2025, with strong support from ASEAN partners.
“Based on the direction from leaders at the previous ASEAN-India Summit, a new ASEAN-India Plan of Action 2026–2030 was adopted to advance our cooperation further,” he said.
However, he raised concern that progress in the AITIGA review remained limited despite consistent follow-ups by both parties (ASEAN and India).
India has been a leading trade partner of ASEAN, with total trade increasing to US$106.83 billion in 2024 from US$100.72 billion in 2023.
However, foreign direct investment from India to ASEAN fell 34.97 per cent to US$3.31 billion in 2024, from US$5.09 billion in 2023.
India also congratulated Malaysia on its ASEAN chairmanship and welcomed the upcoming admission of Timor-Leste as ASEAN’s 11th member in October 2025.
Meanwhile, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, said the timing of the ASEAN-India meeting could not be more significant, with the global trade landscape shifting rapidly and presenting both opportunities and challenges.
He said closer economic integration between ASEAN and India can serve as a stable anchor of growth and a vital source of resilience amid global uncertainties.
Tengku Zafrul emphasised that the ongoing review of AITIGA is a strategic opportunity to modernise and upgrade the ASEAN-India economic partnership for the realities of today and tomorrow.
“We recall that our leaders have mandated us to expedite the review of AITIGA to be substantially concluded in 2025,” he said during his opening remarks when chairing the 22nd AEM-India Consultation on the sidelines of the 57th AEM Meeting and Related Meetings today.
Previously, it was reported that ASEAN has offered a new package of goods under the AITIGA, aimed at addressing trade imbalances and accelerating the review process following concerns over Delhi’s widening trade deficit with ASEAN.
-- BERNAMA
