The Association of Southeast Asian Nations (ASEAN) is a political and economic organization of 10 Southeastern countries i.e Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei, Cambodia, Laos, Myanmar, & Vietnam. 2.It was formed on 8 August 1967, its chairman is Mr. Najib Rajak, headquarter is in Jakarta, Indonesia.
It aims to accelerate the growth, social progress, and socio-cultural evolution in the region. In 2015, ASEAN’s combined nominal G.D.P had grown to more than US$ 2.6 trillion. The next steps by the ASEAN are to create:-
- Single market and production base.
- Competitive economic region.
- Region of equitable economic development.
- Region fully integrated into the global economy.
ASEAN is a part of India’s, “Act East Policy” and Myanmar is its launching pad in the region. India is 6th largest investor of FDI in ASEAN with an increase of 48% in the last 5 years. India imports oil and natural gas from ASEAN and exports automobiles and electronic machines to them. India has got a Free Trade Agreement (FTA) with ASEAN, which is operational since 2011. The 30th ASEAN summit took place in Manila, Philippines on 29 Apr 2017, in which the ASEAN leaders underscored the importance of India`s cooperation in implementing the ASEAN Agreement on Disaster Management and Emergency Response (AADMER).
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