India's trade deficit with the Association of Southeast Asian Nations (ASEAN) has more than doubled since the implementation of the ASEAN-India Trade in Goods Agreement (AITIGA) in 2010.
Vietnam has for the first time surpassed India and Thailand to become the largest rice exporter to Singapore by shipping 36.15 million SGD (26.55 million USD) worth of rice in the first three months of this year, an increase of 80.46% over the same period in 2023, winning 32.03% of the market share, according to the Vietnam Trade Office in Singapore.
The Philippines may be moving in the right direction toward greening its economy, but it is still stuck in the middle of the rankings among neighbors in the region.
The ASEAN Future Forum 2024 (AFF 2024), which will take place in Hanoi on April 23, is expected to create a platform for stakeholders to contribute ideas and initiatives on the Association of Southeast Asian Nations (ASEAN)’s future vision.
Early trends suggest that, in the period post Regional Comprehensive Economic Partnership (RCEP), China has demonstrated superior gains when compared to other participating nations. Studies suggest that India's decision to abstain from RCEP stemmed primarily from a commitment to shield its manufacturing sector. A comprehensive understanding of this situation necessitates an exploration of the challenges faced by Indian manufacturing, not only from China but also from the Association of Southeast Asian Nations (ASEAN) through the Free Trade Agreement (FTA) route.
According to figures released by the Ministry of Commerce and Industry, India’s exports to ASEAN member countries stood at USD 25,627.89 million in the year 2010-11, while imports from these nations amounted to USD 30,607.96 million.
Former Cambodian leader Hun Sen’s recent call for stronger Sino-Asean trade brings to light an often-overlooked but key aspect in the bilateral relationship: two-way agricultural trade.
Indonesian Foreign Affairs Minister Retno Marsudi stated that the Comprehensive Strategic Partnership can boost economic cooperation between Indonesia and one of its biggest trade partners, China, as well as foreign investors.
<p>Time: 2024 By: Ministry of Industry and Trade</p>
