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ASEAN-India trade likely to reach 100 billion USD in 2015

Trade turnover between India and the Association of Southeast Asian Nations (ASEAN) is likely to hit 100 billion USD by the end of 2015.
Trade turnover between India and the Association of Southeast AsianNations (ASEAN) is likely to hit 100 billion USD by the end of 2015.

President of the ASEAN-India Business Council(AIBC) Ramesh Kodammal made the statement at a press conference toannounce the ASEAN-India Business Forum, slated for May 21 in KualaLumpur, Malaysia.

He said that the forum isorganised to create a venue for businesses and economists to shareinformation and experience, and discuss how businesses and governmentscan contribute to building an ASEAN-India business communitysustainably, comprehensively and equally in 2015 and beyond.

The forum will gather around 500 delegates from India and ASEANmember countries, focusing their attention on logistics, infrastructure,manufacturing, health and pharmaceuticals and information technology.

According to the AIBC, bilateral trade recorded a 20-fold increase in the past 20 years, topping 80 billion USD in 2014.

The figure is expected to reach 200 billion USD in 2022.

ASEAN groups Malaysia, Thailand, Myanmar, Laos, Cambodia, Singapore, Indonesia, Brunei, Vietnam and the Philippines.-VNA
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