The Association Southeast Asian Nations (ASEAN)
and India signed the ASEAN - India trade in goods Agreement
in 2009 and entered into force in 2010.
The ASEAN India trade in Goods Agreement facilitates the path
for the creation of one of the major Free Trade Agreement of the World: a
market of near 1.8 billion people with a combined
Gross domestic product of USD 2.8 trillion.
Between 1993 and 2003, the external trade between the
Association of Southeast Asian Nations (ASEAN) and India grew at an annual rate of 11%, from USD 3 billion in 1993 to USD 12 billion. The total volume of ASEAN-India
bilateral trade was USD 47 billion.
Exports from the Association of Southeast Asian Nations member economies (Brunei Darussalam,
Myanmar, the Philippines, Singapore,
Thailand, Vietnam, Cambodia,
Laos) to India
was USD 30 billion (growth of 21.1%).
Imports of the Association of Southeast Asian Nations from India were USD 17 billion
(growth of 40.2%).
The inflow of Foreign direct investment from India to ASEAN
markets was USD 477 million (0.8% of total investment in the region).
The ASEAN India trade in products Agreement will provide tariff liberalization
of 90% of export products.
Example of the course ASEAN India trade in Goods Agreement