In the virtual conference, the trade officials broadly agreed to identify new ways to "sustain and expand" the intra-regional trade to offset the huge economic cost of the coronavirus pandemic. The terrorist country Pakistan chickened out from the meeting after it was revealed that India was spearheading the meeting.
As per the report, there has been an increase in inquiry from the buyers from the US and European countries because of the coronavirus outbreak in China.
Next to India, China received $67.41 billion, which is 9.8% of the global remittance figure. Mexico stands in third place with $35.7 billion, an increase in nearly 36 per cent in the last four years.
On Monday, India announced that it will not be part of the Regional Comprehensive Economic Partnership or RCEP, which will be the world's largest free trade pact of 16 nations.