Hua Hin (Thailand), Oct 24 (IANS) The Association of Southeast Asian Nations (ASEAN) said Saturday that it stood for the early establishment of an ASEAN-India business council to strengthen business networks and opportunities.
A statement issued at the end of the 15th ASEAN Summit here said the regional grouping welcomed the signing of the ASEAN-India Trade in Goods Agreement in August this year.

“The agreement is expected to create a free trade area comprising about 1.7 billion people with a combined GDP of approximately $2.75 trillion as of 2008,” it said.

ASEAN said it had instructed its officials “to exert maximum effort towards concluding negotiations in services and investment to complete the mandate in the Framework Agreement on Comprehensive Economic Cooperation between Asean and India (signed in 2003)”.

The seventh ASEAN-India Summit was held in this Thai resort Saturday.