ASEAN, India eye 100 bln USD in trade by 2015

Leaders from the ten ASEAN member countries and India met at the 11th ASEAN-India Summit in Brunei on October 10, affirming their determination to reach 100 billion USD in two-way trade by 2015.

Thursday, October 10, 2013 20:50

Leaders from the ten ASEAN member countries and India met at the 11thASEAN-India Summit in Brunei on October 10, affirming theirdetermination to reach 100 billion USD in two-way trade by 2015.

Theyapplauded the recent fine development in relations between the twosides, especially the elevation of their relations to a strategicpartnership level and the signing of the Trade, Service and InvestmentAgreement.

Better cooperation in priority fields such as trade,investment, infrastructure development, information technology, climatechange and people-to-people exchange was also approved.

Indiaaffirmed its commitment to continue to support the organisation build anASEAN Common Community by 2015 and promote regional connectivity andenhance the central role of ASEAN in the regional architecture.

Theleaders also emphasised the importance of maintaining maritime securityand safety in the East Sea, and their support for ASEAN’s principles inthe issues.

Speaking at the event, Vietnamese Prime MinisterNguyen Tan Dung stressed that Vietnam and ASEAN highly values India’s“Look East” policy.

He also praised India’s contributions tobuilding a community in ASEAN, narrowing gaps and boostingconnectivity in the region and supporting ASEAN in realising theInitiative for ASEAN Integration (IAI) and promoting cooperation indeveloping the Mekong Sub-region.

The PM suggested that the twosides should promote negotiations towards an early signing of servicesand investment agreements, saying that they will facilitate theestablishment of a comprehensive free trade area between ASEAN andIndia, and promote negotiations for the Regional Comprehensive EconomicPartnership (RCEP) between ASEAN, India and other partners.

Heproposed the two sides promote cooperation in transport links,economics, trade, investment, tourism, cultural exchange and education,and the sustainable use of water resources in particular.

TheVietnamese PM also spoke highly of India’s efforts in working withVietnam to address the consequences of bombs and mines left over fromthe war./.

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