Marcos backs review of ASEAN-India trade pact to ease restrictions

By Darryl John Esguerra, Philippine News Agency

“We hope that the review of the AITIGA will effectively lessen restrictions to trade and that India will continue to support its agreed provisions,” Marcos said in his intervention during the 21st ASEAN-India Summit in Vientiane, Lao DPR. (File Photo: Bongbong Marcos/Facebook)

MANILA – President Ferdinand R. Marcos Jr. on Thursday expressed support on the review of the ASEAN-India Trade in Goods Agreement (AITIGA) to ease restrictions and make more user-friendly agreements for businesses, especially for micro, small, and medium enterprises (MSMEs).

“We hope that the review of the AITIGA will effectively lessen restrictions to trade and that India will continue to support its agreed provisions,” Marcos said in his intervention during the 21st ASEAN-India Summit in Vientiane, Lao DPR.

AITIGA was signed in 2009 in Bangkok, Thailand.

In September 2022, both sides tasked the AITIGA joint committee to conduct a review to make the agreement more trade-friendly and mutually beneficial.

Marcos expressed optimism on future cooperation between the regional bloc and the Asian economic giant, particularly in the digital realm through the ASEAN-India Joint Statement on Advancing Digital Transformation.

He also encouraged India to explore its promotion of Technical and Vocational Education and Training (TVET) in ASEAN through sharing of knowledge on establishing industry-academia partnerships to enhance enterprise-based training schemes.

Recognizing India’s continuous support for Traditional and Complementary Medicine and its sharing of expertise on Cancer Management and Research and Development, the President urged India to share its best practices as the world’s pharmaceutical hub and expertise in providing affordable and quality medicines, including vaccine production and distribution.

“On health cooperation, we thank India’s continued support for Traditional and Complementary Medicine, as well as its sharing of expertise on Cancer Management and Research and Development,” he said.

“We also invite India to share its strengths as the world’s pharmaceutical hub and to share expertise in providing affordable and quality medicines, including vaccine production and distribution within the region, and support the initiative on ASEAN Vaccine Security and Self-Reliance,” he added.

Likewise, the Chief Executive expressed confidence on India as partner in promoting tourism.

“As a vital part of our economic post-pandemic recovery, we also look forward to cooperation on tourism, and to 2025 as the ASEAN-India Year of Tourism,” he said.