Upgraded ATIGA To Boost Goods Concession, Achieving 99 Pct Trade Openness – Satvinder

KUALA LUMPUR, Oct 25 (Bernama) — The upgraded ASEAN Trade in Goods Agreement (ATIGA), which grants greater concessions or preferential treatment for goods traded among member states, is expected to reach over 99 percent openness in regional trade flows, said ASEAN Economic Community (AEC) Deputy Secretary-General, Satvinder Singh, today.

He said the much-heralded and enhanced ATIGA will deliver significant benefits for ASEAN as the bloc continues its efforts to address key regional challenges to trade – particularly the prevalence of non-tariff barriers (NTBs), estimated at between 5,000 and 7,000 across the region.

He said that “NTBs are one of the biggest issues we confronted before, especially in managing disputes, as businesses have the ability to use arbitration (while) ASEAN has its own arbitration ability and mechanisms in place.”

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