Hayat Ashraf

India and ASEAN (Association of Southeast Asian Nations) have been actively engaged in economic cooperation and have established various mechanisms to enhance trade, investment, and economic ties. Here are some key aspects of India-ASEAN economic cooperation: 1. ASEAN-India Free Trade Area (AIFTA): In 2009, the ASEAN-India Free Trade Agreement was signed, which established the AIFTA. Under the agreement, tariffs have been significantly reduced or eliminated on a wide range of goods traded between India and ASEAN member countries. AIFTA aims to promote trade liberalization, enhance market access, and facilitate the flow of goods and services between India and ASEAN. 2. Trade and Investment: India and ASEAN have witnessed a steady growth in bilateral trade and investment. The trade volume between India and ASEAN reached approximately USD 90 billion in 2019. Both sides have set a target to increase bilateral trade to USD 200 billion by 2022. India's main exports to ASEAN include petro...