ASEAN-India Summit

ASEAN-India Summit

  • Recently the 19th India-ASEAN Summit was held, in which the Vice President of India Jagdeep Dhankhar has participated.
  • This conference is organized in Phnom Penh, Cambodia. The conference also celebrated the 30th anniversary of the India-ASEAN dialogue.
  • The year 2022 is being celebrated as the ASEAN-India Friendship Year.

 

ASEAN India Summit

Key findings of the summit

  • Both sides have elevated their ties to ‘Comprehensive Strategic Partnership (CSP). Under this, the focus will be on special areas such as maritime security, projects in the Indo-Pacific, cyber security and inter-operability of digital financial systems.
  • The ‘Comprehensive Strategic Partnership (CSP) will promote cooperation in energy and health sectors and investments in areas such as Make in India, technology, climate change etc.
  • India has announced an additional outlay of $5 million for the ASEAN-India Science and Technology Fund.
  • It was also agreed to expedite the review of the ASEAN-India Goods Trade Agreement (AITGA).

India-ASEAN relations

  • Political: India was formally associated with ASEAN in 1992 as a “Regional Dialogue Partner”. In 2012, the two sides agreed to build a strategic partnership.
  • Economic: Both sides have signed AITGA and ASEAN-India Services Trade Agreement. At present, the bilateral trade between the two sides stands at $110 billion.
  • Between 2000-2021, there was a cumulative foreign direct investment (FDI) of $117.88 billion in India from ASEAN countries. Most of the investment has come from Singapore.
  • ASEAN Regional Forum (ARP), ASEAN Defense Ministers’ Meeting+ (ADMM+) etc. have been established for security cooperation.
  • Connectivity is being promoted through India-Myanmar-Thailand Trilateral Highway and Kaladan Multi-Modal Project etc.

ASEAN (Association of South-East Asian Nations)

  • ASEAN was established in the year 1967 with the signing of the ASEAN Declaration (Bangkok Declaration). Its headquarter is in Jakarta, Indonesia.
  • It aims to accelerate economic growth, social progress and cultural development through joint efforts among Southeast Asian countries.
  • Its member countries are – Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei, Vietnam, Laos, Myanmar and Cambodia.

Source – The Hindu

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