Vientiane: Union Minister of Commerce and Industry, Piyush Goyal on Saturday held meetings with his counterparts from Myanmar and South Korea at the sidelines of the 12th East Asia Summit Economic Ministers’ Meet in Laos.
“Held a meeting with Dr Kan Zaw, Myanmar’s Minister of Investment and Foreign Economic Relations, on the sidelines of the 12th East Asia Summit Economic Ministers’ Meeting,” Goyal posted on X after the meeting.
The ministers discussed potential cooperation in areas like lentils, diesel, gasoline, electric vehicles, etc and ways to promote bilateral trade including through the Rupee-Kyat currency mechanism, between the two nations.
They were also involved in discussions related to the review of the ASEAN-India Trade in Goods Agreement (AITIGA) and the upcoming Joint Trade Committee Meeting.
Discussions on more balanced trade were held during Goyal’s meeting with South Korea’s Minister of Trade, Industry and Energy.
“Held productive talks with Mr. Inkyo Cheong, Minister of Trade, Industry and Energy, Republic of Korea. Deliberations were held on achieving more balanced trade, upgrading the India-Korea Comprehensive Economic Partnership Agreement (CEPA), promoting investments linked to job creation and addressing non-tariff barriers to further strengthen our economic ties,” said the Commerce and Industry minister.
Earlier on Friday, the Union Minister participated in the 21st ASEAN-India Economic Ministers’ (AEM-India) meeting in Vientiane.
The meeting noted the progress in the ASEAN-India Trade in Goods Agreement (AITIGA) review, which will forge deeper trade and economic ties and create new opportunities for businesses.
The Union Minister stated on X, “Emphasised the importance of two-way trade, paving way for stronger supply chain linkages and GVC integration between the two regions benefiting businesses and people across the region.”
Goyal’s two-day Laos visit included participation in the 21st ASEAN-India Economic Ministers (AEM-India) and the 12th East Asia Summit Economic Ministers Meeting (EAS EMM). These annual meetings, which involve ASEAN and its dialogue partners, are being hosted this year by Laos, the ASEAN Chair for 2024.
(IANS)
