Five areas of cooperation with India and ASEAN:
(a) Emotional cooperation: ASEAN was seen by India as a rapidly growing region with enormous potential. It could become a major source of capital, relevant technology, market and partner in areas of respective core competencies. It views India as a major emerging market and a source of knowledge, education and HRD related resources.
(b) Economic cooperation: It is considered as a fourth largest trading partner between India- ASEAN. Acknowledging this trend and recognizing the economic potential of close linkages, both sides recognized the opportunities for deepening trade and investment ties and agreed to negotiate a framework agreement to pave the way for the establishment of an ASEAN-India Free Trade Area. Hence it leads to tariff liberalization of over 90% of products.
(c) Peace and security cooperation: In the political sphere, India has been actively participating in various consultative meetings under dialogue and cooperation frameworks initiated by ASEAN. The ASEAN is the forum for promoting peace, stability and prosperity in the dynamic Asia Pacific Region. With the partnership of ASEAN and India, commemorated for peace and shared prosperity.
(d) Tourism sector: The 4th ASEAN-India Tourism Ministers Meeting was held in Vietnam on January 2013 for strengthening tourism cooperation and website was launched. Visa arrival facility is extended to 7 ASEAN countries.
(e) Summit level cooperation: Various summit level meetings promotes peace, progress. Prosperity among the ASEAN countries. In the 6th meeting, India announced setting up of an India-ASEIAN green fund. In the 7th meeting. India announced a contribution of USD 50 million for plan of action.
