PM Phuc to attend ASEAN-India Commemorative Summit

(VNF) - Prime Minister Nguyen Xuan Phuc and his spouse will attend the ASEAN-India Commemorative Summit and the 69^th anniversary of the Republic Day in India from January 24^th-26^th as guest of Indian Prime Minister Narendra Modi.

Prime Minister Nguyen Xuan Phuc. (Photo: VNA)

The information was announced by Spokesperson for the Ministry of Foreign Affairs Le Thi Thu Hang at the ministry’s regular press conference on January 18^th.

Hang informed that Deputy Prime Minister Vuong Dinh Hue will attend the annual World Economic Forum in Davos, Switzerland, from January 22^nd to 25^th and visit Portugal from January 26^th to 28^th.

On the occasion of the 25^th anniversary of the ASEAN-India dialogue partnership, 15^th anniversary of Summit-level partnership and 5 years of strategic relations, India is hosting the ASEAN-India Commemorative Summit in New Delhi in January 2018.

The theme of the Special Commemorative Summit is "Shared Values, Common Destiny".

India-ASEAN trade and investment relations have been growing steadily, with ASEAN being India's fourth largest trading partner.India's trade with ASEAN has increased to USD 71.69 billion in 2016-17 from USD 65 billion in 2015-16. India's export to ASEAN has increased to USD 31 billion in 2016-17 from USD 25 billion in 2015-16.

Investment flows are also substantial both ways, with ASEAN accounting for approximately 12.5 per cent of investment flows into India since 2000. FDI inflows into India from ASEAN between April 2000 to May 2016 was about USD 49.40 billion, while FDI outflows from India to ASEAN countries, from April 2007 to March 2015, as per data maintained by DEA, was about USD 38.672 billion.The ASEAN-India Free Trade Area has been completed with the entering into force of the ASEAN-India Agreements on Trade in Service and Investments on 1 July 2015./.

VNF