The India-ASEAN relations will be lifted to a new height, with cooperation between India and Cambodia being a key element in New Delhi’s engagement with the grouping when the country moves forwards “Act East” policy, stated Indian Vice President Hamid Ansari.

Speaking at the Cambodia’s Council of Ministers’ Office on September 16 during his ongoing visit to the Southeast Asia country, Ansari said current economic relations between India and ASEAN countries present a multitude of industrial, commercial and investment opportunities.

Indian Vice President Hamid Ansari. Photo: weeklytimesofindia.com

Cambodia, Laos, Myanmar and Vietnam (CLMV) are among ASEAN partners that are of particular interest to India, he said, adding that these countries include some of the fastest growing economies in the region with stable macro-economy and high development potential.

This creates strong complementary interests between India and the countries in the region on the basis of a tripod of commerce, culture and connectivity, he said.

India welcomes ASEAN’s plan to establish economic and political relationships with neighbours, stated Ansari, declaring that both India and ASEAN supported bilateral trade, promoted foreign investment and strengthened external relations among countries.

According to Ansari, the Indian Government has recently set up a Special Purpose Vehicle to increase Indian investment in Cambodia and other CLMV countries.

Source: VNA