ASEAN-India Forum Continues to Foster Regional Stability and Prosperity

Strategic Insights -

Malaysian Prime Minister Anwar Ibrahim emphasized the significance of the ASEAN-India forum, describing it as one of the best platforms for regional stability and prosperity. The 22nd ASEAN-India Summit took place virtually, with PM Anwar co-chairing alongside Indian Prime Minister Narendra Modi. The summit focused on finalizing the ASEAN-India Trade in Goods Agreement (AITIGA) and implementing the ASEAN-India Plan of Action 2026-2030 to enhance cooperation in trade, investment, education, food security, and technological development. Malaysia appreciates the close ties with India in education, economy, and cultural exchange, expressing confidence that ASEAN-India cooperation will drive inclusive and mutually beneficial progress.

Key Takeaways:

  • The ASEAN-India forum continues to be a vital platform for regional stability and prosperity, according to PM Anwar Ibrahim.
  • The 22nd ASEAN-India Summit took place virtually, with PM Anwar co-chairing alongside Indian PM Narendra Modi.
  • Issues discussed during the summit included finalizing the ASEAN-India Trade in Goods Agreement (AITIGA) and implementing the ASEAN-India Plan of Action 2026-2030.
  • Malaysia appreciates the close ties with India in education, economy, and cultural exchange.
  • The ASEAN-India Trade in Goods Agreement (AITIGA) is expected to be concluded by this year.
  • The agreement was signed in 2009 and implemented in 2010, but India has called for a review due to a widening trade imbalance.
  • Between FY 2009 and FY 2023, India's imports from ASEAN surged by 234.4 percent, while its exports to the bloc increased by only 130.4 percent.
  • The widening trade deficit is attributed to limited market access for Indian products in ASEAN countries.

Statistics:

  • India's imports from ASEAN have surged by 234.4 percent between FY 2009 and FY 2023.
  • India's exports to ASEAN have increased by only 130.4 percent between FY 2009 and FY 2023.
  • The trade deficit between India and ASEAN has widened from US$7.5 billion in 2011 to approximately US$44 billion in 2023.

Sources:

  • A post on X platform from PM Anwar Ibrahim.
  • Bernama news agency.
  • United News of India (no date provided).