PM Modi holds talks with Japan, Australia and Vietnam counterparts — ASEAN Summit

PM Modi holds talks with Japan, Australia and Vietnam counterparts — ASEAN Summit

Launched in November 2012, RCEP targeted to cover trade-in-goods and services, investments, economic and technical cooperation, intellectual property rights, competition policy and dispute settlement, among others.

The East Asia Summit is a forum held annually by leaders of 18 countries including ASEAN nations India, the U.S. and Russian Federation.

RCEP is a 16-nation proposed free trade pact eyed to further strengthen ASEAN markets, namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, and its major trading partners China, South Korea, Australia, India, Japan and New Zealand.

United States President Donald Trump was among those who attended the summit. "We seek to enhance our cooperation in non-traditional security issues through the framework of the ASEAN Senior Officials' Meeting on Transnational Crime (SOMTC) Plus US Consultations, ASEAN Regional Forum (ARF), and ASEAN Defence Ministers' Meeting (ADMM) Plus, and the East Asia Summit (EAS), including through training courses and exercises", the statement read.

Over the past two decades, cooperation between ASEAN and the three Northeast Asian countries "continued to flourish steadily among the ASEAN external partners' cooperation", he said.

Prime Minister Modi also talked about shared values and common destiny between India and ASEAN. The leaders also discussed security and counter-terrorism issues.

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He said the proposal was made during the ASEAN Plus Three Summit here today, attended by ASEAN leaders, South Korean President Moon Jae-in, Chinese Prime Minister Le Keqiang and Japanese Prime Minister Shinzo Abe.

He said, "I look forward to a befitting culmination of the commemorative year and receiving you at the India-ASEAN Special Commemorative Summit on 25 January 2018 in New Delhi".

"We have individually striven very hard to fight terrorism and violent extremism".

"The ASEAN-US partnership plays an increasing role in addressing transnational challenges. It is time that we jointly address this challenge by intensifying cooperation in this crucial area", Modi said.

The trade between India and ASEAN nations stood at $71 billion in 2016-17 and comprises 10.85 percent of India's total trade with the world.

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