ASEAN, India to raise mutual trade value to US$200 billion in 2022

NEW DELHI, Jan 26 (TNA) -- India and the Association of Southeast Asian Nations (ASEAN) intend to raise the value of their mutual trade to US$200 billion in 2022 while Thailand expresses readiness to liaise between ASEAN and India. The intention emerged in the ASEAN-India Summit set in New Delhi on Jan 24-26. In the summit, Thai Prime Minister Prayut Chan-o-cha delivered his speech on “India-ASEAN Shared Values, Common Destiny”. He said ASEAN and India should boost cooperation on trade and investment to increase the trade value to 200 billion US dollars in 2022. He suggested both sides use their free trade agreement and push for the Regional Comprehensive Economic Partnership. The partnership should also cover mutual understanding, cultural cooperation, human development and sustainable development, Gen Prayut said. He proposed the establishment of SMART Cities-Cultural Centres involving small and medium-sized cities. The prime minister also said that Thailand would assume the task of coordinating ASEAN-India relations for three years and Thailand together with other ASEAN member states would develop true strategic partnership with India for the sake of peace and sustainable development in the Indo-Pacific region. (TNA)