New Delhi [India], Jan 26 (NT): In the wake of silver jubilee of India –ASEAN ties, India and the 10-members Association of Southeast Asian Nations (ASEAN) on Thursday agreed to further make stronger the economic relations amongst themselves.

The leaders contracted to "strengthen ASEAN-India economic relations, including through the full utilisation and effective implementation of the ASEAN-India Free Trade Area, and intensify efforts in 2018 toward the swift conclusion of a modern, comprehensive, high quality, and mutually beneficial Regional Comprehensive Economic Partnership (RCEP)."

Put emphasis upon the blue economy, the leaders agreed to, "cooperate for conservation and sustainable use of marine resources in the Indian and Pacific Oceans in accordance with international law and address threats to these resources. In this regard, explore cooperation in the field of blue economy, and take note of India's proposal for a possible framework of cooperation in this regard."

The announcement further put stresses upon the agreement to deepen cooperation in the area of aviation and establishes closer ASEAN-India air links to endorse tourism, trade, and enhance greater connectivity between ASEAN and India.

India is hosting a two-day India-ASEAN Commemorative Summit which is expected to furnish heighten to the cooperation in key areas of counter-terrorism, security and connectivity.

The eleven countries agreed to persist to encourage private sector engagement and strengthen business-to-business relations through the ASEAN-India Business Council, and push trade events to promote brand awareness of ASEAN and India products and services to further expand and deepen economic linkages.(NT)