October 27, 2025 | 04:20 pm
TEMPO.CO, Jakarta - Trade Minister Budi Santoso stated that the Second Protocol to Amend the ASEAN Trade in Goods Agreement (ATIGA Upgrade) has resulted in a trade agreement that is more responsive to regional and global economic dynamics.
"This agreement reflects ASEAN's confidence to continue to progress and remain relevant amid the global economic dynamics," Budi said in a written statement on Sunday, October 26, 2025.
The Minister made the statement during the handover ceremony of the ATIGA Upgrade trade agreement document as part of the 47th ASEAN Summit in Kuala Lumpur, Malaysia, on Sunday, October 26, 2025.
During the ceremony, Malaysian Minister of Investment, Trade, and Industry Zafrul Abdul Aziz, as the Chair of the ASEAN Free Trade Area (AFTA) Council, handed over the trade agreement document to ASEAN Secretary-General Kao Kim Hourn.
According to Budi, the handover of this trade agreement document signifies the joint commitment of ASEAN countries to build a modern, inclusive, and sustainable trading system, thereby strengthening the region's economic integration.
He noted that the upgrade introduces several new provisions. These include measures that encourage environmentally conscious trade, strengthen the role of micro, small, and medium enterprises (MSMEs), enhance supply chain connectivity, and provide alternative mechanisms in dispute resolution.
"This is not just a rule update, but a step to strengthen the market and create a conducive environment for robust and competitive supply chain growth and development," he explained.
Budi confirmed that he had signed the ATIGA agreement document on Saturday, October 25, 2025. Other countries that have signed the trade agreement are Brunei Darussalam, Malaysia, the Philippines, Singapore, and Thailand. Meanwhile, Cambodia and Laos have signed ad referendum. Myanmar and Vietnam are scheduled to sign the agreement in November 2025.
The National Mandate Party politician said that the implementation of this agreement is predicted to take effect 18 months after it is signed by each country.
The Indonesian Ministry of Trade also noted that intra-ASEAN trade remains the largest, with a value reaching US$823.1 billion in 2024, accounting for 21.4 percent of the region's total trade.
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