15 Feb '12, 4pm

India and ASEAN celebrate 20 years of ties

India and ASEAN celebrate 20 years of ties

INDIA: India flagged-off the year-long celebrations commemorating 20 years of the ASEAN-India dialogue partnership with a focus on economic ties. S M Krishna, India's Foreign Minister, said: "It is in the common interest of India and ASEAN to work together to enhance the prospects for prosperity in our region." India was ASEAN's sixth largest trading partner in 2010, while the Southeast Asian grouping was New Delhi's fourth largest trading partner in 2009. To build on that relationship, the two sides are preparing the ASEAN-India Vision 2020. It has an 82-point Plan of Action worth about US$40 million till 2015. The two parties are also working to finalise the India-ASEAN Free Trade Agreement signed in 2009. That will create one of the world's largest free trade areas. The India-ASEAN FTA aims to spur trade from US$50.33 billion to US$70 billion in 2012. With common develo...

Full article: http://www.channelnewsasia.com/stories/southeastasia/view...

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