India – ASEAN Cooperation

What is the issue?

• Philippines recently hosted the 50th anniversary  summit of Association of Southeast Asian Nations (ASEAN) and East Asia summits (EAS). 
• Regional Comprehensive Economic Partnership (RCEP) leader’s meeting and the ASEAN Business and Investment Summit were also held. 

What is the view of India in the Phillipines Summits?

• Indian PM joined these meetings, and underscored India’s commitment to deepening ties with the ASEAN states and the wider Indo-Pacific region.
• Prime Minister has stressed India's relationship with ASEAN & its commitment to the EAS as key pillars of its foreign policy.
• He also vouched for joint action to curtail terrorism.
• He also assured ASEAN of steady support towards evolving a rules-based regional security architecture and.

What is the significance of Indo-Pacific?

• The Indo-Pacific region is now central to global politics and economics and recent days.
• Beijing is also more confident now of projecting its regional and global powers.
• Notably, it has benifited form the U.S. administration’s lack nof seriousness and consistency in its foreign policy.
• This makes this period of transition very significant for ASEAN and India that have a stake in the long-term stability of the region.

How is the current India ASEAN ties?

• ASEAN members and India together consist one of the largest economic regions with a total population of about 1.8 billion.
• ASEAN is currently India’s fourth largest trading partner, accounting for 10.2% of India’s total trade.
• India is ASEAN’s seventh largest trading partner and its service-based economy complements the manufacturing-based ASEAN.
• While there is considerable scope for further growth and increased co-operation, formidable security challenges remain.
• Ensuring a favourable balance of power in the region for ensure regional stability is crutial.
• India needs to further domestic economic reforms and enhance regional connectivity to be seen as a favourable partner.

Source: The Hindu