A Study On Asean India - 1334 Words

In this paper, I shall provide you with important and detailed information, entailing who ASEAN-India is, how ASEAN-India was founded, why there was a need for ASEAN-India, and what type of business conducted, along with its contributing countries. This paper will further discuss each agreement that was signed into effect, to include The Framework Agreement on Comprehensive Economic Cooperation, The Trade in Goods Agreement, Trade in Services Agreement, and the Investment Agreement. Each agreement is centered on ASEAN-India Free Trade Area. Once reading this paper, one will gain a comprehensive understanding as to how ASEAN-India came to be and what each above-mentioned category represents. On August 8, 1967, five leaders, six nations,†¦show more content†¦These eleven above-mentioned countries are those who make up the eleven Member States of ASEAN-India Free Trade Area. The first initial structure of the ASEAN-India Free Trade Area agreement was signed on October 8, 2003 in Bali, Indonesia. Also, in 2003, the AIFTA summit, initiated for the ASEAN-India Framework Agreement on Comprehensive Economic Cooperation laid a substructure for the eventual establishment of ASEAN-India Regional Trade and Investment area, (RTIA.) This included services, FTA in goods, and investments. The ASEAN final agreement was signed on August 13, 2009, but in return making this agreement effective on January 1, 2010. In the signing of the ASEAN-India Free Trade Area Agreement gave these countries, along with its investors, opportunities to expand their economic ties in the Asian-Pacific region. The Association of Southeast Asian Nation (ASEAN) and ASEAN-India Free Trade Area (AIFTA) A greement, both networking in regions, consists of different markets with a variance in economic development, along with its diverse cultures,’ making it one of the most competitive regions in today’s world. This would be the beginning to the relationship in forming a Framework Agreement on Comprehensive Economic Cooperation. This agreement has served as legal