13 July 2016 – The Philippine Embassy in New Delhi participated in the 5th India-ASEAN Economic Forum organized by theAssociated Chambers of Commerce of India (ASSOCHAM) at the Hotel Taj Mahal in New Delhi on July 08.
The event aims to serve as a platform to identify the priority areas of trade in goods and services in ASEAN, address India-ASEAN connectivity, identify potential prospects for infrastructure investment, and enumerate ways to increase environmental resilience and enhance socio-ecological balance. It was attended by senior officials of the government of India, members of the diplomatic corps, Indian economists and representatives from the business sector.
The inaugural session of the forum had messages from the following officials: Mr. Sunil Kanoria, ASSOCHAM President; Mr. S. C. Aggarwal, Chairman and SMC Global Securities Limited Managing Director; Ambassador Shyam Saran, Chairman of the Research and Information System for Developing Countries; Vietnamese Ambassador Ton Sinh Thanh; Philippine Ambassador to India Ma. Teresita C. Daza; Dr. Gulshan Sarma, Director General of the International Chamber for Service Industry; Ms. Preeti Saran, Secretary East of the Ministry of External Affairs; Gen. V. K. Singh, Minister of State of the Ministry of External Affairs; and Mr. D. S. Rawat, ASSOCHAM Secretary General.
In her special remarks, Ambassador Daza focused on the recent developments in the ASEAN Economic Community, updates on ASEAN-India economic relations, and ongoing preparations for the Philippine chairmanship of ASEAN in 2017, as well as its advocacies. Ambassador Daza highlighted that 2017 will be an auspicious year for both ASEAN and India since ASEAN will celebrate its golden jubilee and it is also the 25th anniversary of ASEAN-India ties.
Ambassador Daza expressed her hope that the forum would become the first in a series of activities that will raise awareness on ASEAN, ASEAN-India and address issues and concerns to deepen ASEAN-India relations.
Commercial Counselor Michael Alfred V. Ignacio of the Philippine Trade and Investment Center in New Delhi took part in the Panel Discussion on Trade, Investment and Financing: Exploring New Opportunities. Mr. Ignacio underscored that ASEAN has a domestic market of 622 million people with an aggregate GDP of US$ 2.6 trillion in 2014. Combined with India’s population and purchasing power, both regions would have a ready market that will ensure consumer driven growth.
ASSOCHAM is the oldest, leading and largest Chamber of Commerce and Industry in India, with a membership of more than 400 chambers and trade associations across the country. ASSOCHAM, in keeping with its goal to work towards creating a conducive environment of Indian business to be globally competitive, also launched the 2016 knowledge report, “India ASEAN Trade and Investment Relations: Opportunities and Challenges.” END
