PM Modi to co-chair India-ASEAN summit: focus on economy, strategic ties

Context

• Along with Prime Minister Narendra Modi, the 17th India-ASEAN virtual summit will be co-chaired by Vietnam Prime Minister Nguyen Xuan Phuc.
• The Summit is expected to focus on measures to recover from the economic turmoil triggered by the coronavirus pandemic and ways to further broad-base strategic ties.
• The leaders will discuss ways to further strengthen ASEAN-India engagement and in this context will note the adoption of ASEAN-India Plan of Action (2021-2025).

What Is ASEAN?

• The Association of Southeast Asian Nations is a regional organization.
• It’s a 10 member organization.
• Its members include - Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. 
• ASEAN countries have a total population of 650 million people and a combined gross domestic product (GDP) of $2.8 trillion.
• ASEAN itself was created on 8 August 1967.
• The foreign ministers of five countries: Indonesia, Malaysia, the Philippines, Singapore, and Thailand signed the ASEAN Declaration.

Objective

• It brings together disparate neighbors to address economic, security, and political issues.

ASEAN Plus Three

• ASEAN Plus Three was the first of attempts for further integration to improve existing ties of Southeast Asia with East Asian countries of China, Japan and South Korea.

ASEAN Plus Six

• It includes ASEAN Plus Three as well as India, Australia, and New Zealand.