Asean Needs to Improve Trade, Security Cooperation With India: Jokowi
Jakarta. The Association of Southeast Asian Nations and India need to strengthen cooperation in regional security and maritime affairs, President Joko "Jokowi" Widodo said during the 15th Asean-India Summit in Manila, Philippines on Tuesday (14/11).
"Asean and India must strengthen cooperation in regional security and maritime affairs, also through the EAS [East Asia Summit] and IORA [Indian Ocean Rim Association]," Jokowi said, as quoted in a statement issued by the Cabinet Secretariat.
Jokowi also called on Asean member states and India to wrap up negotiations on the Maritime Transport Agreement.
The populations of Asean and India together make up around 2 billion, with a gross domestic product of $4.5 billion.
Acknowledging huge economic potential, Jokowi observed that trade and investment between Asean and India are "still far from optimal."
In 2016, trade between Asean and India was valued at $56.4 billion, 3.8 percent less than in 2015. However, in the same period foreign direct investment from India to Asean increased by 9.4 percent to $1.05 billion.
During his opening remarks at the Asean-India Summit, India's Prime Minister Narendra Modi said Asean countries and India must "work closely to further strengthen" maritime links, especially in order to improve trade relations.
Stronger economic partnerships between Asean and India may see progress with the regional comprehensive economic partnership (RCEP), which is expected to be ready next year.
Modi also said that India's "Act East" policy is shaped around the regional bloc.
The policy seeks to improve India's relations with other countries in the Indo-Pacific region, including Asean member states, South Korea, Australia, New Zealand, and Pacific island countries.
The policy covers not only economic, but also security, political, counterterrorism and defense cooperation.
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