ASEAN economic ministers sign trade-in-goods agreements

The 43rd ASEAN Economic Ministers Meeting has signed-off several action plans as part of the implementation of the ASEAN Trade in Goods Agreement (ATIGA) during a meeting of the ASEAN Free Trade Agreement Council,  the official Chinese news agency, Xinhua reported.

The plans include the schedule for tariff reduction in the context of ATIGA, development of the ASEAN Import Licensing Procedure (ILP) Guidelines, and extension of a waiver for rice and sugar from Indonesia.

The AEM further agreed to review steps to enhance the Rules of Origin and Certificate of Origin for Goods, collaboration in customs including the expansion of the National Single Window and ASEAN Single Window, trade facilitation and collaboration in standard mechanism.

The AFTA Council also noted that intra-ASEAN trade reached $519.7 billion in 2010, an increase of 31.2% from $376.2 billion in 2009.