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Association of Southeast Asian Nation(ASEAN) (Exploring proactive…
Association of Southeast Asian Nation(ASEAN)
Founded : 8 Aug 1967
Headquarter : Jakarta,Indonesia
Objectives
To accelerate economic growth social progress
Protection of regional stability
10 Members
Indonesia
Malaysia
Philipines
Singapore
Thailand
Brunei
Combodia
Laos
Myanmar
Vietnam
India signed FTA : 2009,managed to get similar deal in services in 2012
Trade Deficit
2010 - $6.7 bn, 2015 - $15.1bn
Competition in manufacturing and plantation sector
Exploring proactive investment
3% FDI in ASEAN 203-16
2% in CLMV
China 10% share
Indian business in multifold market size
Flourishing middle class -400mn by 2020
MCL-Least developed countries
EU provides duty free and quota free access to EU for export of commodities except arm and ammunation
CLMV - winning in terms of labour cost competitiveness
E.g readymade garments - CVI countries
Geo-strategic consideration : Pathway to expand economic interest and outreach to Asia pacific region
Investing in infra development in N-E and bridge it to Myanmar and Thailand
Mekong-India Economic Corridor : Linking India to CMLV
Kaladan Multimodal Transit Transport Project
Thailand-India-Myanmar Trilateral highway
should penetrated in service market : IT,healthcare,education
Govt announced 500 crore Project development Fund will be in dept of commerce and operated through EXIM bank
Encourage to set up venture in CLMV