1. Economic Ministers from the ten ASEAN Member States and the Minister of Commerce and Industry of the Republic of India (“the Ministers”) met on 1 September 2018 in Singapore, for the Fifteenth AEM-India Consultations. The Consultations were co-chaired by H.E. Chan Chun Sing, Minister for Trade and Industry, Singapore, and H.E. Suresh Prabhakar Prabhu, Minister for Commerce and Industry, India.
2. The Ministers welcomed the significant increase in ASEAN-India merchandise trade, which rose by 25.4 percent to reach USD 73.5 billion in 2017. This accounted for 2.9 per cent of ASEAN’s total merchandise trade, placing India as ASEAN’s sixth largest trading partner. The Ministers also noted that India was ASEAN’s seventh largest external source of Foreign Direct Investment (FDI) in 2017. FDI flows from India to ASEAN amounted to USD 1.8 billion, accounting for 1.3 per cent of total FDI flows to ASEAN.
Download the full Statement here.
Download the opening remarks here.