India is seeking to have stronger ties with the Asean bloc through joint development programmes in infrastructure and human resource development, said minister of state for external affairs Praneet Kaur.
?The coming into effect of the India-Asean trade in goods agreement has improved trade interactions between the two parties. Trade in goods has been robust, doubling in 2007-2008 despite the global economic crisis,? Kaur said while addressing the India- Asean Project Partnership Conference.
The trade balance has been in Asean?s favour, with Singapore becoming the largest FDI contributor after the bilateral agreements came into force, she said.
?Our strategic partnership with Asean stands out, besides sharing common land and sea boundaries Asean too is on a higher growth path and is an important partner to India,? she added. The minister noted that India?s development program focuses on infrastructure growth and human resource development.
?The potential for exploration of new projects in Asean is extensive and extends to all domains of co-operation in sectors like rail roads, ports and airports and in the energy sector, agricultural cooperation and commodities,? Kaur said.
Speaking on the occasion, Vietnam’s ambassador Nguyen Thanh Tan said the Asean countries wish to have a stronger partnership with India and improve it in the fields of trade, HR, space, IT, transport and culture.
Though several Indian companies have invested in this region, there is a need for increasing investments significantly. Currently, about 75% of India?s exports and imports to Asean can be accounted for by three nations ? Singapore, Indonesia and Malaysia.
The association comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.