Prelims: Current events of national and international importance | International Relations
Why in News?
Recently, India Participates in 14th East Asia Summit Economic Ministers’ Meeting and 23rd ASEAN-India Economic Ministers Consultation.
- Held in – Manila, Philippines
- Representatives – From all 11 ASEAN countries — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Timor-Leste and Vietnam — participated in the meetings along with EAS partners, including India, Australia, China, Japan, New Zealand, Korea, Russia and the United States.
- Key development
- India–ASEAN bilateral trade: US$128.38 billion in 2025–26
- ASEAN accounted for 10.55% of India's total global trade.
- Objective – To facilitate an exchange of perspectives on prevailing regional and global economic developments.
- Key highlights
- ASEAN Secretariat – It provided a briefing on the regional and global economic outlook for 2027, including the anticipated implications for trade and investment flows.
- Economic Research Institute for ASEAN and East Asia (ERIA) – It also presented its paper, “Powering the EAS Region’s Next Wave of Growth: An Integrated Approach to Energy Security and Industrial Clusters.”
- It focuses on integrated energy, digital/industrial demand, infrastructure, and trade-investment policies.
- Trade Partnerships – India reaffirmed commitment to strong and mutually beneficial regional trade partnerships.
- AITIGA Review – It focuses on improving trade flows and addressing trade asymmetries.
- Objective – To make AITIGA balanced, effective, user-friendly and trade-facilitative for businesses.
Reference
PIB | ASEAN–India Economic Relations
