The Association Southeast Asian Nations (ASEAN)
and India signed the ASEAN - India trade in goods (TIG) Agreement
in 2009 and entered into force in 2010.
The ASEAN India trade in Goods Agreement facilitates the path
for the creation of one of the major Free Trade Agreement of the World: a
market of near 1.8 billion people with a combined
Gross domestic product (GDP) of USD 2.8 trillion.
Between 1993 and 2003, the external trade between the
Association of Southeast Asian Nations (ASEAN) and India grew at an annual rate of
11%, from USD 3 billion in 1993 to USD 12 billion in 2003. In 2008, the total volume of ASEAN-India
bilateral trade was USD 47 billion.
Exports from the Association of
Southeast Asian Nations member economies (Brunei Darussalam,
Myanmar, the Philippines, Singapore,
Thailand, Vietnam, Cambodia,
Indonesia,
Malaysia and
Laos PDR) to India
was USD 30 billion (growth of 21.1% in comparison with 2007).
Imports of the Association of Southeast Asian Nations (ASEAN) from India were USD 17 billion
( growth of 40.2% in comparison with 2006.
The inflow of Foreign direct investment (FDI) from India to ASEAN
markets was USD 477 million in 2008 (0.8% of total FDI in the region). Total
Indian Foreign direct investment into ASEAN
economies from 2000 to 2008 was USD 1.3
billion.
The ASEAN India trade in products Agreement (TIG) will provide tariff liberalization
of 90% of export products.
Example of the course ASEAN India trade in Goods Agreement (TIG):
(Es): ASEAN India
