Upgraded ATIGA offers huge gains
‘These provisions are particularly beneficial for micro, small, and medium-sized enterprises (MSMEs), enabling them to prepare for regulatory changes and mitigate adverse effects.’
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‘These provisions are particularly beneficial for micro, small, and medium-sized enterprises (MSMEs), enabling them to prepare for regulatory changes and mitigate adverse effects.’
Share
KUALA LUMPUR, Malaysia — Local businesses are expected to gain from the Second Protocol to Amend the ASEAN Trade in Goods Agreement (ATIGA), formally handed over during the 47th ASEAN Summit and Related Summits.
President Ferdinand Marcos Jr., along with other leaders of the Association of Southeast Asian Nations (ASEAN), witnessed the handover ceremony during the ASEAN Leaders’ Summit Plenary on Sunday.
According to Special Assistant to the President on Investment and Economic Affairs (SAPIEA) Frederick D. Go, the enhanced ATIGA addresses current trade challenges and introduces improvements in trade facilitation, transparency, and dispute settlement, while incorporating new and emerging trade elements.
“The revised ATIGA ensures that trade within ASEAN becomes more efficient, predictable, and responsive to the needs of businesses across the region,” Go said in a statement through Palace Press Officer Undersecretary Claire Castro.
Cargo clearance
Under the agreement, traders will benefit from expedited cargo clearance throughout the region through the mutual recognition of Authorized Economic Operators (AEOs). Businesses will also experience easier compliance with administrative requirements through the implementation of the Electronic Certificate of Origin (e-Form D) and the broader acceptance of digital documentation.
Go said the strengthened transparency and cooperation provisions will allow ASEAN member-states to respond more effectively to the potential impacts of new trade policies.
“These provisions are particularly beneficial for micro, small and medium-sized enterprises (MSMEs), enabling them to prepare for regulatory changes and mitigate adverse effects,” he noted.
He added that the inclusion of new and emerging provisions, such as those on remanufactured goods, will open avenues for future growth and innovation across the ASEAN region.
The upgraded ATIGA is expected to further deepen regional economic integration and strengthen ASEAN industries’ competitiveness in global markets.
