The Union Minister of Commerce and Industry Piyush Goyal addressed the Association of South East Asian Nation-India Business Council meet.
During the meet, minister emphasized on 3Cs namely Cooperation, Collaboration and Commitment. He also highlighted to use full trade potential addressing concerns of members and businesses. It also agreed to review ASEAN-Trade in Goods agreement signed in 2009.
India-ASEAN trade
In the year 2020, India’s trade with ASEAN countries touched 86.86 billion USD. The trade increased mainly due to the ASEAN-India Free Trade Area agreement that was signed in 2009. It came into effect in 2010.
Act East Policy
India is focusing on Act East Policy to reach the ASEAN countries. In fact, the Act East policy of India was unveiled at the 12th ASEAN-India Summit in 2014.
India shifted from Look East Policy to Act East Policy in order add security cooperation along with trade and other economic cooperation. The following are the major areas where India and ASEAN are working together currently
- Counter Terrorism: To share capacity building, best practices and information
- Cyber Security
- Maritime Cooperation
India-ASEAN Maritime Cooperation
The maritime cooperation is highly important for both the partners as China is increasing its influence in the Indo-Pacific region. The following are the major forums through which India and ASEAN are exhibiting their maritime strategies
- Expanded ASEAN Maritime forum is conducted for better coordination in search and rescue operations and also manage accidents in sea according to ICAO and IMO guidelines. ICAO is International Civil Aviation Organization. IMO is International Maritime Organisation.
- India plans to strengthen its maritime security measures through SAGAR. SAGAR is Security and Growth for all in the Region. SAGAR has been recognized by ASEAN.
Other cooperation
India actively participates in the following ASEAN led events
- ASEAN Region Forum
- ASEAN PMC+1 with India
- East Asia Summit
- ASEAN Defence Ministers Meeting Plus (ADMM-Plus)
- ASEAN-India Joint Cooperation Committee
- ASEAN-India Senior Officials.
- Join our Official Telegram Channel HERE for Motivation and Fast Updates
- Subscribe to our YouTube Channel HERE to watch Motivational and New analysis videos
Google’s Best Books for UPSC PSC Exams
Amazon’s Best Book for UPSC PSC Exams