first_imgDuring the Vietnam visit both countries may announce newDuring the Vietnam visit both countries may announce new oil exploration projects for which negotiations were going on. The South China Sea issue may figure in the talks.China wants India to refrain from undertaking oil exploration in the Vietnamese blocks in order to ensure “peace and stability” in the South China Sea.At the 14th India-ASEAN summit on September 8, Modi is expected to pitch for expanding trade ties with the powerful grouping besides enhancing overall cooperation.India-ASEAN trade and investment relations have been growing steadily, with ASEAN being New Delhis fourth largest trading partner. The annual trade registered an average growth of 22 per cent per annum in the decade upto 2011-12, but has stagnated thereafter.It stood at approximately USD 76.53 billion in 2014-15. The two-way investment flows are also substantial, with ASEAN accounting for approximately 12.5 per cent of investment flows into India since 2000.FDI inflows into India from ASEAN between April 2007 and March 2015 was about USD 32.44 billion. ASEAN members include Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.The ASEAN summit will be followed by 11th East Asia Summit which is likely to deliberate on issues relating to security and threat of terrorism.The leaders at East Asia Summit are expected to discuss the situation in South China Sea and as well as a host of other issues.East Asia Summit is a forum for cooperation between various countries of the region with ASEAN and includes Australia, China, India, Japan, Republic of Korea, New Zealand, Russia and the US, in addition to the ten ASEAN (Association of South East Asian Nations) countries. PTI MPB SKadvertisementlast_img