INDIA, ASEAN TARGET SWIFT DEAL ON RCEP

Source: The Hindu via Press Trust of India

Read the full report here.

India and ASEAN agreed to target a swift conclusion to the Regional Comprehensive Economic Partnership (RCEP) in 2018 and to enhance physical and digital connectivity in line with the Master Plan on ASEAN Connectivity 2025 and the ASEAN ICT Masterplan (AIM) 2020 by availing the $1-billion line of credit announced by India.

The ASEAN-India Commemorative Summit and the Delhi Declaration:

The summit was held here to mark the 25th anniversary of Association of Southeast Asian Nations (ASEAN)-India Dialogue Relations. Following are the highlights:

1. India and ASEAN will also work towards encouraging early completion of the India-Myanmar-Thailand Trilateral Highway Project and extend this trilateral highway to Cambodia, Lao PDR and Vietnam.
2. Emphasis on the need to deepen cooperation in the area of aviation under the ASEAN-India Aviation Cooperation Framework adopted at the 14th ASEAN Transport Ministers’ Meeting in Manila in 2008, including through the convening of air services consultations by the ASEAN-India Working Group on Regional Air Services Arrangements and the establishment of air transport cooperation on technical, economic and regulatory matters between ASEAN and India. It was agreed to establish closer ASEAN-India air links to promote tourism, trade, and enhance greater connectivity between 10-nation grouping ASEAN and India.
3. Full utilisation and effective implementation of the ASEAN-India Free Trade Area.
4. Agreements on cooperation for conservation and sustainable use of marine resources in the Indian and Pacific Oceans and address threats to these resources including illegal, unreported and unregulated fishing, loss of coastal ecosystems and the adverse impacts of pollution, ocean acidification, marine debris.
5. Emphasis on the need to promote maritime transport cooperation between ASEAN and India, and encourage potential private sector participation in the development of seaports, maritime logistics network and maritime services in order to create greater efficient linkages.
6. Promotion of stable and sustainable growth for Micro, Small and Medium Enterprises (MSMEs), including through technology transfer, as well as enhancing capacity building, technical assistance, access to innovation and opportunities to integrate into the global and regional value chains.
7. Collaboration in peaceful exploitation of outer space, through the implementation of the ASEAN-India Space Cooperation Programme, including launching of satellites, for sustainable exploitation of ground, sea, atmospheric and digital resources for equitable development of the region.
8. Establishment of the ASEAN-India Trade and Investment Centre.