Barriers that impede India-ASEAN trade must be removed: Sitharaman
The Dollar Business Bureau Commerce and Industry Minister Nirmala Sitharaman said on Thursday that if India and ASEAN (Association of South East Asian Nations) countries were to recognize their full potential for business then they need to fast-track the ‘corridors of connectivity’ to ‘corridors of trade’. “Barriers that impede trade must be removed besides enhanced utilization of the Free Trade Agreement (FTA),” she said while speaking at the ASEAN-India Expo and Forum, being held in Bangkok from August 2-5. Sitharaman said that for trade promotion, the introduction of non-tariff measures such as facilitating customs and operation procedures have to go a long way to ensure smooth movement of goods and services between the partner nations. The Minister termed Act East policy of India as “the pillar of its foreign policy”, ...
ASEAN & India-A strategic partnership
Prof. A.K. Sen Gupta | The Dollar Business Introduction The Association of South-East Asian Nations (ASEAN) came into existence on August 8, 1967 in Bangkok, Thailand. The Bangkok declaration (Asian declaration) which emanated from this conclave was signed by a five member group of nations comprising Indonesia, Malaysia, Philippines, Singapore, and Thailand. The Asean group witnessed substantial expansion in subsequent years with countries like Brunei-Darussalam, Viet-Nam, Laos PDR, Cambodia and Myanmar joining the group making it a ten member alliance in the final tally. The Asean declaration had a broad charter of objectives designed to bring all the signatory nations on a closer cooperative mode in varied sectors including economic, social, cultural, scientific, technological and administrative areas. The prime focus was ...
India-ASEAN trade likely to touch US$ 100 billion in 2015
The Dollar Business Bureau The implementation of the ASEAN-India FTA in goods, signed in 2009, has given the much needed fillip to bilateral trade, which increased from US$ 44 billion in 2009-10 to over US$ 74 billion in 2013-14 and is likely touch US $ 100 billion in 2015,” said Anil Wadhwa, Secretary (East), Ministry of External Affairs, Govt. of India. Inaugurating the business session of the Delhi Dialogue VII, organized by the Ministry of External Affairs, ‘ASEAN India’ and FICCI, Wadhwa, today underlined the need for an approach that seeks to realize the ASEAN-India vision for partnership and prosperity in an integrated, inclusive and multimodal manner for the mutual interest and sustainability of the partnership in the long term. ...