17th ASEAN-India Summit held

17th ASEAN-India Summit held

Part of: GS Prelims and GS-II – International Relations

In news

• Recently, India participated in the 17th ASEAN-India Virtual Summit.  
• The current Chair of ASEAN is Vietnam.

Key takeaways 

• The summit focused on measures to recover from the economic turmoil triggered by the Covid-19 pandemic and ways to further broad-base strategic ties.
• India placed the ASEAN at the centre of India’s Act East policy. 
• It held that a cohesive and responsive ASEAN is essential for security and growth for all in the region.
• India highlighted the importance of strengthening convergence between India’s Indo-Pacific Oceans Initiative (IPOI) and the ASEAN Outlook on Indo-Pacific, to ensure a free, open, inclusive and rules-based region.
• It also highlighted the importance of cooperation by ASEAN for the Security And Growth for All in the Region (SAGAR) Vision.
• India would explore ways to increase trade despite its exit from the 15-nation RCEP agreement in 2019.
• India affirmed the importance of maintaining and promoting peace in the South China Sea. 
• It also underscored the importance of cooperation and regular exchanges in the field of traditional medicines as a source of healthy and holistic living.
• India called for an early review of ASEAN-India Trade in Goods Agreement (AITIGA), which is pending for a long time.

Important value additions 

Association of Southeast Asian Nations (ASEAN) 

• It is a regional grouping that promotes economic, political, and security cooperation.
• It was established on 8th August 1967 in Bangkok, Thailand with the signing of the ASEAN Declaration (Bangkok Declaration). 
• Founding members: Indonesia, Malaysia, Philippines, Singapore and Thailand.
• Present Ten Members: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
• Chairmanship rotates annually, based on the alphabetical order of the English names of Member States.
• It is India’s 4th largest trading partner with about USD 86.9 billion in trade.