Friday, February 17, 2012 23:53 PM | 3,744 Views

Friday, February 17, 2012 23:53 PM | 3,744 Views
New Delhi (Reuters) - Indian Relations with the Association park city outlets of Southeast Asian Nations (ASEAN) has developed rapidly over the past two decades, seen from different acceleration achieved in the field of economic cooperation, trade and investment. India and ASEAN during this close relationship also has had a thorough so as to have a better understanding of the social, cultural, political, and security. Progress in India-ASEAN connectivity is also supported by the "Look East Policy" which made India since the government of Prime Minister Narasimha Rao, in 1992 India's economy is experiencing at this time is the best period park city outlets in its history. Together with China, India has become a country that recorded the highest growth in the world economy. Indian government's economic policies are much more open than ten years ago, and its population of 1.2 billion people park city outlets is clearly a promising market for ASEAN. The study by the McKinsey Global Institute (MGI) mentions that the Indian market is expected to become fifth largest in the world in 2025 while ASEAN itself is a market with 600 million people where the total value of gross domestic product (GDP) reached 1.8 trillion dollars. The combination of the two, the ASEAN-India will create an integrated market for 1.8 billion people with a GDP reached 3.6 trillion dollars, or 5.7 percent park city outlets of total world GDP. From the perspective of the trade cooperation plays an important role for the creation of the India-ASEAN economic park city outlets integration. The first step that has been accomplished both parties are signing a framework agreement with a free trade area (FTA) ASEAN-India Summit in Bali in October 2003, followed by agreements FTA trade in goods sector applicable from 1 January 2010 As for the service park city outlets sector, both parties are still negotiating. Singapore's Institute of Southeast park city outlets Asian Studies (ISEAS) mentions that there is a sharp increase of exports of India to the ASEAN countries in recent years. In 2010, the total value of trade between ASEAN and India reached 55.4 billion dollars, up 42 percent from 2009 Achieving that includes a 2.7 percent share of total ASEAN trade in the same year. India-ASEAN trade value is predicted to penetrate 70 billion dollars in 2012 Similarly, foreign direct investment (FDI) from India to ASEAN in 2010 reached 2.6 billion dollars, up 221 percent park city outlets from the 2009 figure includes 3.4 percent of total FDI into ASEAN during 2010 "Despite the global economic crisis recently, park city outlets India proved to still be the seventh largest trading partner and sixth largest investor ASEAN," said Director of ISEAS, K Kesavapany while speaking park city outlets at the Delhi Dialogue IV, Tuesday (14 / 2) ago. In the global economic situation as it is now, India and ASEAN stakeholders work together to increase prosperity in the region. ASEAN-India trade potential may actually be even greater if the potential in the services sector could be maximal. Development in the service sector actually has a pretty park city outlets good prospect. For tourism, for example the number of Indian tourist arrivals to ASEAN countries in 2010 reached 2.5 million people, up quite a lot compared to 2.1 million tourists senelumnya. However, for information and communication technology (ICT), ICT share of India to Indonesia, Malaysia, Philippines and even Singapore is still far behind the Indian ICT trading outside ASEAN. This is understandable given the ICT is a major driver of India's trade in services. Although the ASEAN-India relationship is progressing but there are still a number of challenges that need to be anticipated. Kesavapany reminded that the ASEAN-India is the home of the eleven countries with economic backgrounds and varying abilities. The gap was coupled park city outlets with a big difference in the political, institutional and historical if not managed properly can be counter productive. Pooling infrastructure Another park city outlets factor that needs major attention PM Manmohan Singh government is about bringing together the commitment of ASEAN-India infrastructure given the infrastructure and retail sectors will be the main target of ASEAN investors to invest in India. The Indian government needs to continue economic reforms including institutional and business environment. The role of India in infrastructure development park city outlets between India and ASEAN, is vital and can be aligned with the Master Plan on ASEAN Connectivity (MPAC). ASEAN and India want to realize the unification infrastruktut through the construction of a motorway which connects India-Myanmar-Thailand. park city outlets This road will be extended to Laos and Cambodia. The plan will be financed park city outlets by the ASEAN Infrastructure Fund (AIF) newly formed, private and assistance from multilateral institutions such as the World Bank and ADB. While the Indonesian perspective, the attractiveness of India as a new magnet se