In a major initiative to promote trade between India and the ASEAN region, diplomats and trade officials from Vietnam, Indonesia, Malaysia, Singapore, Brunei and Thailand are coming together in Chennai on a common platform.
The initiative is being taken by the India-ASEAN-Sri Lanka Chamber of Commerce & Industry.
A one-day seminar is being organised on May 15 in the city. The seminar, according to the chamber, assumes great significance in the background of the growing interaction between India and the countries in the region, particularly after the first ASEAN-India summit in Cambodia in November 2002.
ASEAN with the membership of ten countries, a population of 550 million and a foreign trade turnover of $ 700 billion offers one of the biggest untapped markets for Indian businesses.
The current business between India and the ASEAN region is around $ 9 billion and is expected to go up to $ 25 billion by 2007.
The India-ASEAN-Sri Lanka Chamber of Commerce & Industry is putting together a detailed plan of action to structure an appropriate marketing strategy to build up the trade between India & ASEAN countries.
The one-day seminar will be attended by Vietnamese ambassdor to India, the Charge D'Affairs, Embassy of the Republic of Indonesia, the Malaysian Assistant High Commissioner and senior officials from the Ministry of Commerce in India, according to a press release here.
