CURRENT AFFAIRS

Detailed explanation-1: -Smt. Anupriya Patel, Minister of State for Commerce and Industry along with H.E. Pan Sorasak, Minister of Commerce, Kingdom of Cambodia co-chaired the 19th ASEAN-India Economic Ministers’ meeting held on 16th September 2022 in Siem Reap City, Cambodia.

Detailed explanation-2: -12 November 2022 It has been designated as the Commemorative Summit, to mark the 30th Anniversary of ASEAN-India Dialogue Relations. The Summit was chaired by Samdech Akka Moha Sena Padei Techo HUN SEN, Prime Minister of the Kingdom of Cambodia. The Summit was attended by ASEAN Member States and H.E.

Detailed explanation-3: -The value of trade between India and the ASEAN region amounted to over 78 billion U.S. dollars in fiscal year 2021. The largest portion of this trade came from Singapore, valued at over 21 billion dollars that year.

Detailed explanation-4: -India began formal engagement with ASEAN in 1992 as a “Sectoral Dialogue Partner” (Secretary level interaction) and subsequently as a “Dialogue Partner” in 1995.

Detailed explanation-5: -The ASEAN-India Trade in Goods Agreement was signed and entered into force on 1 January 2010. Under the Agreement, ASEAN Member States and India have agreed to open their respective markets by progressively reducing and eliminating duties on 76.4% coverage of good.