The Secretary-General of ASEAN, Dr. Kao Kim Hourn, joined ASEAN economic ministers and Indian officials for the 23rd ASEAN Economic Ministers–India Consultation in Manila, with trade and the ongoing review of the ASEAN-India Trade in Goods Agreement at the centre of the discussions. The consultation brought the two sides together during a busy week of economic meetings in the Philippines, which is serving as ASEAN Chair in 2026. It was co-chaired by H.E. Ma. Cristina A. Roque, Secretary of the Department of Trade and Industry of the Philippines, and H.E. Nitin Kumar Yadav, Additional Secretary in India’s Department of Commerce, Ministry of Commerce and Industry.
Much of the attention was on AITIGA, the agreement that sets the framework for trade in goods between ASEAN and India. Officials reviewed the progress of the agreement’s review and discussed the work still under way. ASEAN and India reaffirmed their commitment to continuing the process, with the aim of bringing the review to a timely conclusion.
The discussions come as trade between the two sides has continued to grow. Preliminary figures from ASEAN show that two-way trade with India reached USD 114.1 billion in 2025. Investment figures also showed an increased. Indian foreign direct investment into ASEAN amounted to USD 7.1 billion in 2025, according to figures presented during the consultation. India was ASEAN’s eighth-largest trading partner last year and its ninth-largest source of foreign direct investment.
Those figures give some indication of how extensive the commercial relationship has become. They also help explain why the review of AITIGA remains an important item on the agenda. Changes in trade patterns and the wider regional economy have increased the need for governments to keep existing arrangements under review. The latest meeting followed the 22nd AEM-India Consultation held in Kuala Lumpur in September 2025. At that meeting, ASEAN reported two-way trade with India of USD 106.9 billion for 2024. Indian foreign direct investment into ASEAN was recorded at USD 3.3 billion that year.
The figures discussed in Manila showed a larger trading relationship compared with the previous year, while investment from India into ASEAN also stood at a higher level. Trade was not the only issue considered by the ministers and officials. The consultation also included an exchange of views on regional and global economic developments and the future direction of ASEAN-India economic cooperation.
Dr. Kao Kim Hourn’s presence at the consultation reflected the role of the ASEAN Secretariat in supporting economic cooperation between the regional bloc and its partners. The Secretariat assists ASEAN member states with coordination and with the implementation of agreements and decisions reached through the bloc’s various meetings. The Manila consultation was one of several economic meetings involving ASEAN and its external partners taking place during the 2026 ASEAN economic programme. The meetings have provided opportunities for ministers to discuss trade, investment and broader economic issues with governments from outside Southeast Asia.
For ASEAN and India, the immediate focus remains the continued work on AITIGA.The latest figures showcase the two way trade reaching USD 114.1 billion in 2025, accounting for the commercial link between India and ASEAN. The agreement has been under review as both sides seek to update and strengthen the framework governing their trade in goods. The next stage will depend on the continued negotiations and consultations between the two sides. The Manila meeting allowed officials to review where the process stands and maintain discussions on the outstanding work. For now, ASEAN and India remain engaged on the agreement while their wider economic relationship continues to expand. The 23rd consultation provided another formal setting for that dialogue, bringing trade and investment back into focus as both sides work on the next phase of their economic partnership.
