India and the 10-member South East Asian Nations ,ASEAN have finalised a free trade agreement in services and investments which targeted an ambitious two-way commerce of USD 200 billion by 2022. The move would give Indian professionals like accountants, engineers and doctors to access to the 800 million Southeast Asian market.
Addressing the heads of States and Governments of the ASEAN grouping at the plenary session of the Asean- India Commemarative Summit in New Delhi, Dr. Singh said, India has raised its comprehensive relationship with ASEAN to a strategic partnership level extending mutual cooperation in diverse areas. He stressed for working together for the evolution of an open, balanced, inclusive and transparent regional architecture. Dr. Singh said, the growing role and responsibilities of ASEAN and India in global affairs also called for increased consultation on a broader range of international developments.
Dr. Singh said the conclusion of negotiations of the INDIA-ASEAN Free Trade Agreement on Services and investment is a milestone in the age old civilisational and maritime links between the countries in the region. Dr. Singh said, ASEAN is key to peace and progress and the 1.8 billion people constitute one fourth of humanity and a combined GDP of 3.8 trillion US Dollars. Prime Minister Manmohan Singh said, co-ordination and integration of economies will contribute to peace and security. Dr. Singh said, India see its partnership with ASEAN not merely as a reaffirmation of ties with neighbouring countries or as an instrument of economic development, but also as an integral part of India’s vision of a stable, secure and prosperous Asia and its surrounding Indian Ocean and Pacific regions.
The Prime Minister has also urged ASEAN nations to intensify engagement for maritime security and safety and asked for peaceful settlement of maritime disputes in accordance with international law. Briefing newsmen the Extenal Affairs Minister Salman Khurshid has said that ASEAN leaders welcomed the successful conclusion of the negotiation of India Asean free Trade Agreement in services and investment.
