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.
