PM Modi favors the expansion of ties between India and Asean
BANGKOK: Prime Minister Narendra Modi On Sunday he presented a brief draft for further expansion of India's multisectoral commitment to the Association of Southeast Asian Nations (ASEAN), one of the most influential groups for trade and investment worldwide.
In his opening speech at the India-Asean summit, the prime minister said that improving land, air and maritime connectivity between India and 10 nations of the bloc will significantly boost regional trade and economic growth.
Modi said there was an opportunity to boost cooperation in the field of maritime security and the blue economy, as well as in the areas of agriculture, engineering, digital technology and scientific research.
The Prime Minister also welcomed the convergence of views between India and Asean for cooperation in the Indo-Pacific region.
“The policy of India Act East is an important part of our vision of the Indo-Pacific and Asean is at the center of it. Asean, integrated and economically vibrant, interests India, ”Modi said in the presence of leaders from ASEAN countries.
The Association of 10 Southeast Asian Nations (ASEAN) is considered one of the most influential groupings in the region and India, and several other countries, including the United States, China, Japan and Australia, are its dialogue partners.
The ties between India and Asean have been on the rise.
The ASEAN region together with India as a whole comprises a combined population of 1.85 billion people, which is a quarter of the world's population and its combined GDP has been estimated at more than $ 3.8 billion. ASEAN's investment in India has exceeded $ 70 billion in the past 17 years, representing more than 17 percent of India's total FDI.
The prime minister arrived here on a three-day visit on Saturday to attend the Asean-India, East Asia and RCEP summits.
The annual meeting, a grouping of 10 influential countries, takes place amidst China's aggressive behavior in the disputed South China Sea, as well as in the Indo-Pacific region.
The 10 member countries of Asean are Indonesia , Malaysia, Philippines, Singapore, Thailand, Brunei, Vietnam Laos Myanmar & Cambodia .