In 2009, against the worst global economic crisis since the Great Depression, the Association of Southeast Asian Nations (Asean) signed the Asean Trade in Goods Agreement (Atiga) furthering its commitment to open and integrated regional trade. On March 16, against the Covid-19 pandemic and rising geopolitical crises, Asean economic ministers held negotiations to upgrade the deal.
This historical parallel presents an opportunity for Asean to strengthen its integration amid new global challenges. But the global economy is not just reeling from another crisis -- it is evolving structurally.
This warrants the enhancement of the Atiga, as Asean's flagship trade agreement, that will put Asean in a stronger economic position to respond to global structural shifts brought by circular and technological transitions and would yield significant benefits and deepen Asean competitiveness and relevance in global trade and investments. There is a desire to negotiate an upgraded Atiga that is materially more beneficial and impactful than our existing regional or Asean plus agreements.
