ASEAN-India trade likely to hit 100 billion USD by 2020 hinh anh 1Heads of the delegations at the Delhi Dialogue in New Delhi pose for a photo (Photo: VNA)

New Delhi (VNA) - ASEAN-India trade is likely to touch 100 billion USD by 2020, the news agency PTI quoted Indian Union Urban Development and Housing Minister Hardeep Singh Puri as saying.

Speaking at the valedictory address at the 'Delhi Dialogue' in New Delhi on July 20 in the presence of delegation heads of ASEAN countries, Puri asserted said the economic partnership between India and ASEAN is deepening by the day and is in a "dynamic phase."

He said the bilateral trade between ASEAN and India has crossed the 80-billion-USD mark, which not only shows growing confidence but also constitutes the highest volume of trade in goods that the two sides have witnessed since the signing of the FTA in 2010.

He also called for stronder cooperation between ASEAN and India in the economic field.

According to the minister, the ASEAN-India region together represents a combined population of 1.85 billion - a quarter of the global population and a GDP of over 3.8 trillion USD, creating one of the largest economic spaces in the world.

This joint economic space provides avenues for expansion and cooperation across a myriad of commonalities in security, economic and socio-cultural areas across the geographical expanse of the Indo-Pacific," he said.-VNA