ASEAN, India eye 100 bln USD in trade by 2015

11:24 | 11/10/2013 Cooperation

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.

They applauded the recent fine development in relations between the two sides, especially the elevation of their relations to a strategic partnership level and the signing of the Trade, Service and Investment Agreement.

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

India affirmed its commitment to continue to support the organisation build an ASEAN Common Community by 2015 and promote regional connectivity and enhance the central role of ASEAN in the regional architecture.

The leaders also emphasised the importance of maintaining maritime security and safety in the East Sea, and their support for ASEAN’s principles in the issues.

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

He also praised India’s contributions to building a community in ASEAN, narrowing gaps and boosting connectivity in the region and supporting ASEAN in realising the Initiative for ASEAN Integration (IAI) and promoting cooperation in developing the Mekong Sub-region.

The PM suggested that the two sides should promote negotiations towards an early signing of services and investment agreements, saying that they will facilitate the establishment of a comprehensive free trade area between ASEAN and India, and promote negotiations for the Regional Comprehensive Economic Partnership (RCEP) between ASEAN, India and other partners.

He proposed 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.

The Vietnamese PM also spoke highly of India’s efforts in working with Vietnam to address the consequences of bombs and mines left over from the war./.

Source Vietnamplus