India & ASEAN requires to strengthen connectivity to boost import-export trade : Commerce Ministry

Posted by Daily Shipping Times on 13-04-2018        Tweet

Commerce Ministry also emphasized that India would continue to welcome imports from ASEAN provided such assignments bring in productivity & competitiveness

NEW DELHI: Ministry of Commerce & Industry pitched for strengthening prevailing institutional mechanism in place between India and ASEAN to enhance and intensify their collective trades including imports and exports as per aspirations and mutual gains of their firms and thereby peoples.

The Ministry also emphasized that India would continue to welcome imports from ASEAN provided such assignments bring in productivity, competitiveness and employment in to Indian soil for collective and fair trade advantages.

In addition, the Department of Commerce also felt that the role of Government in ASEAN region ought to be to that of facilitator that can smoothen the trade channels with improved focus on connectivity between India and ASEAN since connectivity is still an issue which needs to be addressed with concerted and intensified efforts.

The aforesaid observations were made by Joint Secretary, FT (ASEAN), Ministry of Commerce & Industry, Mr. Rajneesh at a Conference on “Doing Business with ASEAN” under aegis of PHD Chamber of Commerce and Industry here further emphasizing that India and ASEAN need to create an ambience that can ensure smooth flow of goods and services within this region without any hindrances in trade related terminologies.

Why should India act against those imports from ASEAN constituents if such consignments are accompanied with increased productivity, enhanced cost competiveness and stoke employment opportunities in the domestic market, asked the Joint Secretary pointing out that existing institutional framework between India and ASEAN required to be upgraded to meet the growing requirements of changing times.  Likewise, Indian exports to ASEAN region should meet with similar treatment and fairness in its soil, added Mr. Rajneesh.

Ambassador, Thailand to India, Mr. Chutintorn Gongsakdi who was also present on the occasion asked India Inc. to further enhance their outbound investments to Thailand since it provides for infrastructure that is conducive to attracting investments as also have plenty of opportunities for customizing Indian goods and services.

Similar sentiments were aired by the respective Ambassadors of Myanmar and Vietnam to India, Mr. Moe Kyaw Aung and Mr. Ton Sinh Thanh in selling of the potential of their countries to Indian industry, representatives of which were present on the occasion in sizeable manner.