StartseiteAsean India Free Trade Agreement Malaysia

In 2008, the total volume of ASEAN-India trade was $47.5 billion. ASEAN`s exports to India amounted to $30.1 billion , a 21.1% increase over 2007. ASEAN imports from India amounted to $17.4 billion , a 40.2 per cent increase over 2006. With regard to foreign direct investment (FDI), India`s inflow to ASEAN Member States amounted to USD 476.8 million in 2008, or 0.8% of the region`s total. India`s total direct investment in ASEAN amounted to $1.3 billion between 2000 and 2008. The trade and investment statistics of ASEAN`s dialogue partners can be accessed by www.asean.org/22122.htm. Combined with the continued development of ASEAN as a regional economic power, these figures, while still somewhat small, are on the rise thanks to the free trade agreements between India and ASEAN. The ASEAN-India Agreement on Trade in Goods (TIG) was signed on 13 August 2009 at the 7th ASEAN Economic Ministers` Conference (AEM) – India in Bangkok, Thailand. The agreement entered into force on 1 January 2010 for India and some ASEAN member states. The entry into force of the agreement by other ASEAN and India member states will be the date on which ASEAN and India will be ready to implement it. For Brunei Darussalam, the implementation date for the Goods Trade Agreement was June 1, 2010.

Brunei`s main export to India was crude oil, while Brunei mainly imported textile products and spare parts from India. However, given the relatively high shipping costs between the two countries and the limited links between the Indian and Brunei communities, combined with the limited needs of Brunei`s small population, bilateral trade has been somewhat curbed. In 2001, India and Burma jointly built a 160-kilometre indo-Myanmar Friendship Road to develop a commercial transportation route linking Northeast India and South Asia to Southeast Asia. Based on the success of this trade route, India and Myanmar have agreed to build a new 4-lane triangular highway crossing India, Myanmar and Thailand over 3200 kilometres.

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