India and ASEAN Strengthen Ties: Digital Payments and Myanmar Stability

India remains a valued partner for the ASEAN (Association of Southeast Asian Nations) as the economic union continues to grow. Chatoulong Bouasisavath, Director General of the ASEAN department in Laos, emphasized India’s importance in ASEAN’s development and stability.

Digital Payment Integration

India has proposed a digitalization initiative to further cement its relationship with ASEAN. This includes a real-time payments linkage system, initially between India and Singapore, and now expanding to Malaysia and other ASEAN countries. Bouasisavath noted that an integrated payment system would benefit tourists and enhance digital connectivity.

Stability in Myanmar

ASEAN is addressing the volatile situation in Myanmar with a five-point programme and a special envoy. Bouasisavath acknowledged India’s crucial role in maintaining regional stability, especially as a neighbor to Myanmar.

Regional Comprehensive Economic Partnership (RCEP)

ASEAN hopes India will reconsider its position on the RCEP, a free trade agreement among Asia-Pacific countries. The doors remain open for India to join the agreement.

India’s ‘Act East’ Policy

This year marks a decade of India’s ‘Act East’ Policy, with ASEAN as its central pillar. India supports ASEAN Centrality, the ASEAN Outlook on the Indo-Pacific (AOIP), and Lao PDR’s ASEAN Chairmanship priorities. Last year, Prime Minister Narendra Modi attended the 20th ASEAN-India Summit and the 18th East Asia Summit in Indonesia, marking the elevation of ties to a Comprehensive Strategic Partnership.