INDIA - The joint secretary of India’s Ministry of Commerce and Industry has used a warm-up conference for the India-ASEAN Business Fair and Business Conclave (IABFBC) to tell visitors that the India-ASEAN trade will reach US$70bn in the next three years.
Sumanta Choudhuri, addressing a curtain raiser press conference for IABFBC, said India-ASEAN exports for 2009 were $17.3bn while imports were $23.8bn, rising to $22.3bn and $27.8bn respectively for 2010.
Choudhuri called IABFBC a defining event that will epitomise the post-ASEAN free trade agreement (FTA).
IABFBC will be the first major event to follow the FTA, bringing together captains of trade and industry, as well as business enterprises from India and the ASEAN (Association of Southeast Asian Nations) region.
IABFBC takes place on 2-6 March 2011, in New Delhi, organised by the Federation of Indian Chambers of Commerce and Industry (FICCI).
Commenting on the event, the secretary general of FICCI, Dr Amit Mitra, said: “I am confident that this joint effort by Ministry of Commerce and FICCI shall be instrumental in strengthening the bilateral trade among India and ASEAN countries through INDIA - ASEAN Business Fair and Business Conclave 2011”.
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