Indian Commerce and Industry Minister Nirmala Sitharaman (Source: livemint.com)
Vientiane (VNA) – The 13th ASEAN-India Economic Ministers Consultation Meeting took place in Vientiane, Laos, on August 6, with ministers agreeing to push the implementation of the two sides’ agreements on investment, tra𓂃de and services towards lifting ASEAN-India ties to a strategic partnership.
Addressing the event, which was part of the 48th ASEAN Economic Ministers’ Meeting and related events, Indian Commerce and Industry Minister Nirmala Sitharaman praised the establishment of the ASEAN Economic Community late last year, saying that this will boost the bloc’s connectivity and cooperation, make it a dynamic and highly competitive region by 2025.
Participants hailed the robust bilateral trade exchange in 2015, reaching 58.7 billion USD, accounting for 2.6 percent of ASEAN’s total trade value and making India the bloc’s sixth largest trade partner.
India is also the eighth largest investor in ASEAN, with total investment of 1.3 billion USD. They welcomed constructive discussions to accelerate the review of the ASEAN-India Trade in Goods (AITIG) Agreement in line with the schedule reached during the 12th ASEAN-India Economic Ministers Consultation Meeting in ༺Kuala Lumpur in August last year.
The review of the agreement will help facilitate trade exchange between the two sides towards the target of 100 billion USD in bilateral trade value as set by ASEAN and Indian leaders in 2012, the ministers affirmed.
The participants hailed the recent activities of the ASEAN-India Business Council (AIBC), including its 4th session on the sidelines of the 48th AEM Meeting and related meetings.
They expressed belief that the Council will continue promoting trade exchange between India and the bloc, thus intensifying the connectivity among the regional business communities. The Vietnamese delegation to the 13th ASEAN-India Economic Ministers Consultation Meeting was led by Deputy Minister of Industry and Trade Nguyen Cam Tu.-VNA
A seminar themed “ASEAN-India Relations: A New Paradigm” took place in Jakarta, Indonesia on March 24, drawing delegates from all 10 ASEAN nations and their partner countries.
Measures to accelerate the implementation of the ASEAN-India Action Plan 2016-2020 were the focus of the 16 th meeting of the ASEAN-India Joint Cooperation Committee in Jakarta, Indonesia on June 29.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Laos declared the transfer of the press management functions of five key media agencies and associated personnel to the Propaganda and Training Board of the Lao People's Revolutionary Party Central Committee.
Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
The target is to be completely free from plastic waste within two years. This can only be achieved if all parties implement the initiative with strong discipline.
Indonesia is taking new steps to improve protections for fishery workers, amid concerns over low wages, harsh working conditions, and limited access to social welfare.
The 2025 ASEAN- the Republic of Korea (RoK) Connectivity Forum that opened in Jakarta on June 17 reaffirmed a shared commitment to shaping a connected, resilient future by advancing the ASEAN Connectivity Strategic Plan.
The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
The new halal cooperation arrangement will streamline halal certification and product assurance processes, making it easier for New Zealand exporters to access the Indonesian market.
Indian Commerce and Industry Minister Nirmala Sitharaman (Source: livemint.com)
