Prelims Level
Mains Level

Why in News?

  • 15th ASEAN Economic Ministers – India Consultation was recently held in Singapore. Singapore is currently holding the Chair of ASEAN.

Significance of the meet:

  • ASEAN has emerged as the second largest trade partner of India in 2017-18 with bilateral trade valued at USD 81.33 billion, comprising 10.58% of India’s total trade with the world.
  •  The ASEAN-India Business Council (AIBC) presented their recommendations to the forum  to sustain the momentum of trade and investment in the region.
  •   Issues related to promoting connectivity, collaboration on Small and Medium Enterprises (SME) development, blue economy, healthcare, and tourism as well as women and youth economic empowerment were discussed.

Outcomes of the meeting:

  • The meeting attended by Economic Ministers from 10 ASEAN countries took stock of the current level of trade and economic engagement between India and ASEAN and reaffirmed the commitment to further strengthen ASEAN-India economic relations.
  •   It was also announced in the Singapore meeting that the next ASEAN-India Business Summit will be held in Kuala Lumpur, Malaysia, in November 2018 with the theme “Towards Building Strategic Partnership between ASEAN and India in the Era of the 4th IR and Digital Economy”.
  •  It will be followed by the 4th India-ASEAN Dialogue Partner Expo and Summit scheduled for 21-23 February 2019, in New Delhi.
  •   Issues related to promoting connectivity, collaboration on Small and Medium Enterprises (SME) development, blue economy, healthcare, and tourism as well as women and youth economic empowerment were discussed.

East Asia Summit:

  •  Established in 2005, EAS allows the principal players in the Asia-Pacific region to discuss issues of common interest and concern, in an open and transparent manner, at the highest level.
  •  The membership of EAS consists of ten ASEAN Member States (i.e. Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Singapore, Thailand, the Philippines and Vietnam), Australia, China, India, Japan, New Zealand, Republic of Korea, Russian Federation and the USA.
  • EAS is an initiative of ASEAN and is based on the premise of the centrality of ASEAN.
  •  The six priority areas of EAS are – Environment and Energy, Education, Finance, Global Health Issues and Pandemic Diseases, Natural Disaster Management, and ASEAN Connectivity. India endorses regional collaboration in all six priority areas.
  •   Following the 12th EAS in November 2017 in Manila, Philippines and following the adoption of the Manila Plan of Action for Maritime Cooperation.
  • In 2009, the EAS endorsed the proposal for the revival of Nalanda University by former president APJ Abdul Kalam.
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