ASEAN, India eye US$100 bln in trade by 2015

The closing ceremony of the 23rd ASEAN Summit and related summit, Brunei, October 10, 2013 - Photo: VGP

At the 11^th ASEAN-India Summit in Brunei on October 10, they applauded the development in the two sides’ relations following the establishment of strategic partnership and the signing of the ASEAN-India Regional Trade and Investment Area (RTIA) in August this year.

They also agreed to accelerate the implementation of the ASEAN-India Vision Statement and cooperation in terms of trade, investment, infrastructure, information technology, climate change and natural calamity management and people-to-people exchange.

India confirmed to support ASEAN in turning itself into a single community and enhancing the bloc’s central role in the region.

Addressing the event, PM Nguyen Tan Dung stressed that Viet Nam and ASEAN highly value the India’s “Look East Policy” and its effective contributions to narrowing the gap, improving capacity and launching the Initiative for ASEAN Integrations (IAI) and the Greater Mekong Subregion (GMS) cooperation.

He also urged the two sides to establish a Free Trade Area between ASEAN and India as well as negotiate the Regional Comprehensive Economic Partnership (RCEP).

PM Dung treasured India’s support to ASEAN’s Six-point Principle on the East Sea, the Declaration on Conduct of Parties in the East Sea (DOC) and the building of a first Code of Conduct of Parties in the East Sea (COC).

By Thuy Dung