Author: DKJDKJ Date: Aug 28, 2008 23:27
LAO, Aug 29 (KPL) - ASEAN member countries and India assure Laos of
their continued support in her accession to the World Trade
Organisation, according to the Sixth Consultations between the ASEAN
Economic Ministers (AEM) and the Minister of Commerce and Industry of
the Republic of India, held in Singapore yesterday.
The ASEAN-India bilateral trade continues to grow at impressive rates
despite many challenges in global and regional trade. From 2005-2007,
trade in goods between ASEAN and India increased at an average annual
rate of 28 percent.
ASEAN exports to India during the same period grew at an annual rate
of 31 per cent on average, the fastest among ASEAN’s exports to major
trading partners.
The share of ASEAN-India trade in relation to total ASEAN trade
continued to increase and India remains ASEAN’s seventh largest
trading partner. On the investment side, in 2007, India ’s Foreign
Direct Investment to ASEAN, valued at USD 641 million, was the highest
ever recorded since 2000.
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