1. What is the ASEAN-India Summit?
The ASEAN-India Summit is a high-level meeting between leaders of the Association of Southeast Asian Nations (ASEAN) member countries and India. It aims to enhance cooperation and strengthen bilateral relations on various fronts, including trade, security, and regional integration.
2. What is the East Asia Summit (EAS)?
The East Asia Summit (EAS) is a regional forum comprising 18 member countries, including ASEAN member states, Australia, China, India, Japan, New Zealand, South Korea, Russia, and the United States. It provides a platform for leaders to discuss political, security, and economic issues affecting the region.
3. Where is the ASEAN-India Summit taking place?
The ASEAN-India Summit is scheduled to take place in Jakarta, Indonesia. Prime Minister Narendra Modi will travel to Jakarta on September 6-7 to attend the summit.
4. Why is Prime Minister Narendra Modi attending the ASEAN-India and East Asia Summits?
Prime Minister Modi's attendance at these summits signifies India's commitment to strengthening ties with ASEAN countries and other East Asian nations. It provides an opportunity for India to engage in discussions on regional cooperation, trade, security, and addressing common challenges.
5. What are the key areas of cooperation to be highlighted by Prime Minister Modi?
Prime Minister Modi is expected to highlight the need for enhanced cooperation in several areas, including:
Regional connectivity
Resilient supply chains
Food and energy security
Maritime activities
Health and healthcare cooperation
Digital economy, including Unified Payments Interface (UPI)
Environmental conservation
Smart agriculture and tourism
6. Why is a review of the ASEAN-India Trade In Goods Agreement (AITIGA) important?
Prime Minister Modi aims to stress the importance of an effective review of AITIGA to achieve more balanced trade between India and ASEAN countries. The goal is to address trade imbalances, non-tariff barriers, and concerns to ensure meaningful outcomes from the agreement.
7. What is the significance of the ASEAN-India Comprehensive Strategic Partnership?
The elevation of ASEAN-India relations to a Comprehensive Strategic Partnership in 2022 signifies a deeper and broader cooperation between India and ASEAN member countries. It aims to strengthen collaboration in various areas of mutual interest.
8. What are the priority areas of cooperation identified by the ASEAN-India Economic Ministers' meeting?
The priority areas of cooperation identified include:
Resilient supply chains
Food security
Energy security
Health cooperation
Financial stability
9. How are global challenges addressed in these summits?
The summits provide a platform for leaders to discuss and address global challenges, including the impact of the Covid-19 pandemic, climate change, volatility in financial markets, inflationary pressures, and geopolitical tensions.
10. What is the expected outcome of Prime Minister Modi's participation in the summits?
The participation of Prime Minister Modi is expected to strengthen India's engagement with ASEAN and East Asian nations. It will facilitate discussions on mutual interests, cooperation strategies, and solutions to regional and global challenges.
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ASEAN-India Summit and FTA Review
1. Why is Prime Minister Narendra Modi stressing on the review of AITIGA at the ASEAN-India Summit?
Prime Minister Modi aims to achieve a more balanced trade with the ASEAN bloc by effectively reviewing the ASEAN-India Trade In Goods Agreement (AITIGA). The review is crucial to address India's concerns and enhance the trade relationship.
2. What key areas will Prime Minister Modi emphasize during the ASEAN-India Summit?
Prime Minister Modi will focus on enhanced cooperation in various areas, including:
Regional connectivity
Resilient supply chains
Food and energy security
Maritime activities
Health cooperation
Digital economy, including UPI
Environmental conservation
Smart agriculture and tourism
3. What is the significance of reviewing AITIGA?
After India's persistent demand for a review, both sides agreed to review AITIGA at the Economic Ministers' meeting. The goal is to conclude the review by 2025, addressing India's concerns and making the agreement more effective.
4. How has India's trade deficit with ASEAN evolved over time?
India's trade deficit with ASEAN has grown substantially. From around $5 billion in 2010-11 when AITIGA was implemented, the deficit surged to $43.57 billion in 2022-23, impacting India's trade balance.
5. What challenges have Indian exporters faced under AITIGA?
While ASEAN countries have benefited from the market access provided by India through duty cuts, Indian exporters have not been as successful. Non-tariff barriers in sectors such as agriculture and automobiles imposed by ASEAN countries have hindered Indian exports.
6. What priority areas of cooperation were identified at the ASEAN-India Economic Ministers' meeting?
Resilient supply chains, food security, energy security, health, and financial stability were identified as priority areas of cooperation. These areas aim to enhance collaboration between ASEAN and India.
7. What is the ASEAN-India Comprehensive Strategic Partnership?
The elevation of ASEAN-India relations to a Comprehensive Strategic Partnership in 2022 signifies a deeper and broader cooperation between India and ASEAN member countries across various sectors.
8. Why is Prime Minister Modi attending the ASEAN-India and East Asia Summits?
Prime Minister Modi's attendance at the summits highlights India's commitment to strengthening ties with ASEAN and East Asian nations. It provides a platform to discuss regional cooperation, trade, security, and common challenges.
9. What global challenges were discussed by the ASEAN Economic Ministers?
The Economic Ministers discussed various challenges, including the multidimensional impact of the Covid-19 pandemic, climate change, financial market volatility, inflationary pressures, and geopolitical tensions.
10. Why is Prime Minister Modi traveling to Jakarta for the summits?
Prime Minister Modi's visit to Jakarta underscores India's proactive engagement with ASEAN countries and the East Asia region. It presents an opportunity to advance cooperation, address trade imbalances, and strengthen strategic partnerships.
