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Dependence on Asean Countries

In: Business and Management

Submitted By samkart
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ADVANCED MICROECONOMICS II ASSIGNMENT

The Look East Policy (LEP) was a recreation and correction of India’s Foreign Trade Policy. The main purpose was to revive both political ties and to build up economic linkages with South East Asia. LEP focuses on re-establishing better political security and economic co-operation. The first phase was based on ASEAN and it focused initially and mainly on trade and investment linkages. The second phase was based on expanding the definition of east, extending from Australia to china and East Asia with ASEAN as its core. The conference was graced by Sri Nitin Gadkare, honorable Minister for Road Transport and Highway, as Chief Guest. The four main objectives of the conference were:  To study the policy as direction for India’s growth.  To study the brunt of the policy with the changing geo political scenario worldwide.  To examine the potential of the policy as a vector for economic growth and development of these regions.  To bring the countries of south East Asia and Asia closer. There were 5 tracks explaining the route map for LEP. We will concentrate mainly on track 1 which was based on India’s trade and investment in South East and East Asia. The change in focus of Indian foreign policy from concentrating on the west towards east finds its source in the LEP. It also aims at redesigning the present economic architecture which will be marketed by regional trading blocs. India’s engagement with ASEAN and East Asian countries establishes its acceptance of the region as strategic and economic partner in its sphere of growth. Indian association with the regional block shows its drive for support and cooperation to establish its position as a regional power. LEP supports the advancement of economic growth and development by the removal of trade barriers with South East and East Asian countries. Since mid 2000 various Free Trade...

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