Piyush Goyal meets ASEAN-India Business Council delegation in Laos

Union Commerce Minister Piyush Goyal held discussions with business delegations, and foreign diplomats, on the sidelines of the 21st East Asia Summit Economic Ministers Meeting.

Minister Goyal met an ASEAN-India Business Council (AIBC) delegation and discussed strengthening business engagements between India and the ASEAN nations and exploring new avenues for growth and collaboration.

The minister met a FICCI delegation ahead of the 21st ASEAN-India Economic Ministers’ Meeting.

Minister Goyal urged Indian industries led by FICCI to deepen ties with ASEAN businesses and look for opportunities to grow India’s exports to this region for mutual growth and prosperity.

Also, Minister Goyal held a discussion with Switzerland’s State Secretariat for Economic Affairs (SECO) Helene Budliger Artieda on the sidelines of the 12th East Asia Summit Economic Ministers’ Meeting.

“Discussed the progress in realising the full potential of the India-EFTA Trade and Economic Partnership Agreement. Also, explored collaboration in food processing, machinery and equipment, and innovation along with investment opportunities for our businesses, aiming to strengthen our trade & economic ties,” Piyush Goyal wrote on X after the meeting.

Minister Piyush Goyal is in Vientiane, Lao People’s Democratic Republic (Laos) for a two-day 21st ASEAN-India Economic Ministers (AEM-India) meeting starting today and the 12th East Asia Summit Economic Ministers Meeting (EAS EMM).

These annual meetings of ASEAN with their dialogue partners are being hosted this year by Laos, the ASEAN Chair for 2024.

EAS EMM witnesses participation by Economic Ministers of 10 ASEAN countries and eight other EAS partners — India, the US, Russia, China, Japan, Korea, Australia, and New Zealand.

In the AEM-India meeting, the Ministers will review the progress in negotiations for review of ASEAN-India Trade in Goods Agreement (AITIGA). The review of AITIGA is high on our priority to make it more user friendly, simple and trade facilitative for businesses. In EAS EMM, the Ministers will deliberate on regional and global economic developments. India is the founding member of East Asia Summit Forum which is completing its two decades next year.

Minister Goyal will have a number of bilateral meetings with his counterparts from participating countries on the sidelines of two institutional meetings. Meetings have been scheduled with the Minister of host country Lao PDR and visiting Ministers from Korea, Malaysia, Switzerland and Myanmar. Minister will also meet ASEAN Secretary General and President of ERIA, a premier research institute for Asia and Pacific. Minister will also have an interaction with the Indian diaspora in Lao PDR and will also meet a visiting industry delegation from India as well as ASEAN.

India joined ASEAN in 1992 and became its Comprehensive Strategic Partner in 2022. ASEAN is at the heart of India’s Act East Policy, announced by Hon’ble Prime Minister Shri Narendra Modi in 2014. ASEAN is one of India’s most important trading partners. For the last two consecutive years, ASEAN has been India’s second largest trading partner.