ASEAN countries eyeing Kerala as major investment destination

KOCHI: A high profile delegation from ASEAN today held discussions with industry heads here for promoting business ties between the bloc and Kerala.

The delegation consisted of Ambassadors, Trade & High Commissioners from seven ASEAN countries including Vietnam, Singapore, Thailand, Brunei, Philippines, Indonesia & Myanmar.

The discussions were held at an interactive session with the ASEAN Heads of Mission, a CII press release said.

ASEAN region has emerged as an important trading partner of India over the last one decade. India and ASEAN signed a Free Trade Agreement in 2009, which came into force from January 2010. Negotiations for agreement on services and investment between India and ASEAN countries have been concluded recently.

India has also signed Comprehensive Economic Cooperation Agreements (CECA) with Malaysia and Singapore and is currently negotiating CECA with Thailand and Indonesia.

The delegation's visit to Kerala was aimed at two-way dissemination of information among the local industry on business opportunities in the ASEAN region and to strengthen the local industry and as well as to explore possibilities of collaboration and investment, the release said.

The meeting was attended by the top Business Heads of Kerala including Muthoot, Dhathri Ayurveda, Ernst & Young; Fruitoman's; Glass & Glazing Systems; Escapade Resorts; Synthite; V-Guard; Western India Cashew and others.

The delegation also interacted with the corporates regarding the potential avenues of business in ASEAN countries and how Kerala could benefit from it.