Act East Policy
India's Act East policy gave new energy to ties with ASEAN, says PM Modi
This story was originally published at 19:53 IST on 10 October 2024
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NEW DELHI – Indian Prime Minister Narendra Modi Thursday said the Act East policy announced by his government a decade ago has given a new direction, energy and momentum to the relations between India and the Association of Southeast Asian Nations. Modi was speaking at the 21st ASEAN-India Summit in Vientiane, Lao People's Democratic Republic, as he reviewed the progress of ASEAN-India Comprehensive Strategic Partnership to chart the future direction of cooperation along with ASEAN leaders. The prime minister announced a 10-point action plan at the summit to further strengthen ties with the region. As part of it, he announced a plan to review the ASEAN-India Trade in Goods Agreement by 2025.
"I had announced India's Act East policy 10 years ago. In the last decade, this policy has given new energy, direction and momentum to the historic relations between India and ASEAN countries. In the last 10 years, our trade with the ASEAN region has almost doubled to over $130 billion," Modi remarked at the summit.
The Indian Prime Minister said, "ASEAN is today one of India's largest trade and investment partners." He underlined the need to complete the review of ASEAN-India Free Trade Area (ASEAN-India Trade in Goods Agreement) in a time-bound manner towards harnessing greater economic potential for the benefit of the ASEAN-India community.
As part of the 10-point plan, Modi also said the year 2025 would be celebrated as ASEAN-India Year of Tourism for which India would make available $5 million towards joint activities. He also stressed on enhancing disaster resilience, for which India would make available $5 million.
The 21st century belongs to India and ASEAN countries, he said, adding that India-ASEAN ties were critical to guiding Asia's future. He reiterated India's support for ASEAN Unity, ASEAN Centrality and ASEAN Outlook on the Indo-Pacific.
Prime Minister Modi arrived at Laos Thursday on a two-day visit to attend the 21st ASEAN-India Summit and the 19th East Asia Summit. Modi will also hold bilateral meetings on the sidelines of these summits. As part of the plan, the prime minister met Japan's Prime Minister Shigeru Ishiba and is yet to meet New Zealand's Prime Minister Christopher Luxon.
The Association of Southeast Asian Nations-India (ASEAN–India) is a free trade area among the ten member states of the Association of Southeast Asian Nations and India, while the East Asia Summit is a regional forum held annually by leaders comprising eighteen participating countries, including India, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam, Australia, China, Japan, New Zealand, Korea, Russia, and the US. End
US$1 = INR 83.97
Reported by Kuldeep Singh
Edited by Deepshikha Bhardwaj
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