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East Asia Summit

What is East Asia Summit (EAS)

  • The East Asia Summit is the premier forum of the Indo-Pacific for strategic dialogue. It is the only leader-led forum at which all key partners of the Indo-Pacific meet to discuss political, security and economic challenges facing the region.
    • The forum is led by the ASEAN, and the chair position rotates between ASEAN Members on an annual basis.
  • Origin: The East-Asia Summit began in 2005 between 10 ASEAN countries and 6 partner countries of the grouping.
  • Participants: ASEAN (Myanmar, Thailand, Cambodia, Laos, Vietnam, Malaysia, Indonesia, Brunei, Singapore, Philippines) along with Australia, New Zealand, Japan, South Korea, India and China.
    • The United States and the Russian Federation joined at the 6th East Asia Summit in 2011.
  • Purpose: The summit is an annual Meeting of Heads of States/Governments of member countries, where they are able to discuss common concerns and interests.
  • Objective: The summit was set up with an idea of enhancing cooperation among East Asian countries and those in the neighbouring regions.
  • Areas of cooperation include:
    • Environment and energy
    • Education
    • Finance
    • Global health issues and pandemic diseases
    • Natural disaster management
    • ASEAN Connectivity
  • Previous discussions: Previously, discussions have been held on issues such as claims over the South China Sea, the United Nations Convention on the Law Of the Sea, terrorism, the actions of North Korea and the conflict situation in Myanmar.
  • The 2022 summit:
    • This year is being celebrated as the ASEAN-India Friendship Year as it marks the 30th anniversary of ASEAN-India relations.
    • India has announced additional contribution of USD 5 million to the ASEAN-India science and technology fund to enhance cooperation in sectors of public health, renewable energy and smart agriculture.

 

East Asia Summit ASEAN

  • It is a political and economical union of 10 countries of south-east Asia which aims to promote intergovernmental cooperation and facilitates political, security, economic, educational, military, and socio-cultural integration between its members and countries in the Asia-Pacific.
  • Origin: ASEAN originated in 1967, when the foreign ministers of five countries Malaysia, the Philippines, Indonesia, Singapore, and Thailand, signed the ASEAN Declaration (Bangkok declaration).
  • Objective: The primary objective of ASEAN is to accelerate economic growth and through that social progress and cultural development.
  • A secondary objective aims to promote regional peace and stability based on the rule of law and the principle of UN Charter.
  • Three pillars of ASEAN community: the ASEAN Security Community, the ASEAN Economic Community, and the ASEAN Socio-Cultural Community.
East-Asia-Summit-upsc
East-Asia-Summit-upsc

 

Regional Comprehensive Economic Partnership (RCEP)

  • The Regional Comprehensive Economic Partnership (RCEP) is a free trade agreement (FTA) between the ten member states of the ASEAN and its five FTA partners (Australia, China, Japan, New Zealand and Republic of Korea).
  • Objective: RCEP aimed to create an integrated market with 16 countries (including India), allowing for products and services of member countries to be available across this region.
  • Focus sectors: Trade in goods and services, investment, intellectual property, dispute settlement, e-commerce, small and medium enterprises, and economic cooperation are the sectors in focus.
  • India’s disagreement: India refused to sign RECP agreement citing outstanding concerns. There were concerns that domestic producers would be unable to compete with China and Chinese goods would flood Indian markets.
  • Potential for India: Supporters of the RCEP believed that the agreement would have allowed the country to tap into a huge market. Some sectors such as pharmaceuticals, cotton yarn and the services industry were confident of making substantial gains.

 

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