Re: India and ASEAN / East Asia
Posted: 11 Apr 2012 04:50
Growing ties with Thailand Gains from India’s Look East policy by Rahul Mishra
In the post-Cold War era, changes at systemic and sub-systemic levels motivated India to reorient its foreign and economic policy priorities. The South Asian Association for Regional Cooperation’s (SAARC’s) dismal success compounded India’s frustration, leading to a search for friends beyond South Asia.
As an inward-looking, snail-paced Indian economy attempted to open up, it naturally looked at ASEAN countries as role models and potential partners. Thailand didn’t disappoint India on that count. However, the 1997 financial crisis hit the Thai economy hard, and it took Bangkok several years to get back to normalcy. It was only in 2004 that India signed the Early Harvest Scheme with Thailand; and yet it was among the first countries with which India had inked such a deal.
What started as a small step towards an FTA with Thailand in 2004 culminated into inking of the 2009 India-ASEAN Free Trade Agreement in Goods. That trade has become a significant player in bilateral ties is evident from the point that during the first decade of this century, the total trade volume went up six times, crossing the $ 6 billion mark in 2010. The two countries are working to increase it further, which is evident from discussions on enhancing cooperation in areas such as energy, food industries and petroleum, and inking of six important MoUs. It is hoped that by 2014 bilateral trade will cross the $14 billion mark. The proposed Chennai- Dawei corridor project, which aims to link India and Thailand, is an added advantage of the relationship.
Incidentally, India’s engagement with Thailand and its Look East policy have been complimented by Thailand’s Look West policy, started in 1996. As a consequence, bilateral ties have gone from strength to strength. Today, there are several regional platforms which India and Thailand share. India is an integral member of the Asia Cooperation Dialogue — a Thai initiative.
While one finds enough reasons to feel good about Indo-Thai ties, a lot needs to be done to realise the fullest potential of the partnership between the two countries and take it to new heights. Needless to say that there cannot be a better moment than now for joining hands to take up responsibilities — fighting transnational terrorism, handling neighbourhood problems as also promoting bilateral cooperation.