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.
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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
