Association of South East Asian Nation-India Business Council meet. Addressed by union minister piyush goyal
Union Minister for Commerce and Industry, Piyush Goyal addressed the Association of SouthEast Asian Nations (ASEAN)-India Business Council Virtual Meet.He extended India’s friendship and partnership to ASEAN countries and expected to achieve a target of 300-billion-dollar trade through Business with them.He emphasized 3 C’s Cooperation, Collaboration & Commitment as guide for the strategic partnership between India and ASEAN countries.
Key highlights
• The Minister highlighted the Business Council meeting as a good forum to discuss concerns and best practices, share ideas and flag problems.
• In the meeting it was also discussed that India and ASEAN countries should harness the full trade potential and use the forum as a medium to expand trade, address concerns of all members and businesses and resolve the differences.
• The two sides also agreed to review the ASEAN-India Trade in Goods Agreement that was signed in 2009.
Act East Policy
India is focusing on Act East Policy to reach the ASEAN countries. In fact, the Act East policy of India was unveiled at the 12th ASEAN-India Summit in 2014.
India shifted from Look East Policy to Act East Policy in order add security cooperation along with trade and other economic cooperation. The following are the major areas where India and ASEAN are working together currently
• Counter Terrorism: To share capacity building, best practices and information
• Cyber Security
• Maritime Cooperation
India-ASEAN Maritime Cooperation
The maritime cooperation is highly important for both the partners as China is increasing its influence in the Indo-Pacific region. The following are the major forums through which India and ASEAN are exhibiting their maritime strategies
• Expanded ASEAN Maritime forum is conducted for better coordination in search and rescue operations and also manage accidents in sea according to ICAO and IMO guidelines. ICAO is International Civil Aviation Organization. IMO is International Maritime Organisation.
• India plans to strengthen its maritime security measures through SAGAR. SAGAR is Security and Growth for all in the Region. SAGAR has been recognized by ASEAN.
Other official cooperation
India actively participates in the following ASEAN led events
• ASEAN Region Forum
• ASEAN PMC+1 with India
• East Asia Summit
• ASEAN Defence Ministers Meeting Plus (ADMM-Plus)
• ASEAN-India Joint Cooperation Committee
• ASEAN-India Senior Officials.