December 17, 2009
India's Look East policy got a major boost in 2009 with New Delhi inking a landmark deal on the long-awaited Free Trade Agreement with ASEAN, even as the region was plagued by political unrest in Thailand, Myanmar and Philippines.
India and the 10-nation Association of South East Asian Nations signed the trade pact in August that will break duty barriers in the 1.7 billion consumer market.
The pact on trade in goods was signed by Commerce and Industry Minister Anand Sharma and ASEAN Economic Ministers in Thailand after more than six years of hectic negotiations. The first phase of implementation is supposed to be over by January 1, 2010.
The ASEAN members include Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei, Burma (Myanmar), Cambodia, Laos and Vietnam.
Elsewhere in the region, former Thailand premier Thaksin Shinawatra kept his opponents on their toes as he remotely motivated thousands of his supporters in the country to unseat the government of Abhsit Vijaveya.
A massacre in the Philippines shocked the world when a politician reportedly ordered the killing of 57 people including some journalists who were opposed to him.
The dictator military regime in Myanmar kept its best known opponent Nobel laureate Aung San Suu Kyi under house arrest.
More than 45 Indian educational institutes participated in an education fair eliciting a lot of interest especially among the ethnic Indian Malaysians.
Malaysian construction industry, which has built a notch for itself in the field, is currently involved with at least 22 projects worth $2.3 billion across India at various stages of implementation.
The monorail project handled by Malaysia's Scomi group has already accomplished 20 per cent work in Mumbai. Telecom company Maxis has announced sizeable investment in its Indian company Aircel in which it has a considerable stake.
The year also saw two handbooks being launched - Doing Business in India, handbook for Malaysian business and Doing Business in Malaysia, handbook for Indian business.
Another significant milestone was the signing of the Malaysia-India MoU on labour initialled by Overseas Affairs Minister Vyalar Ravi and Malaysia's HRD minister S Subramaniam.
Thousands of Indians come to Malaysia to seek jobs and many find themselves duped on landing here. Intensive meetings are also to be in 2010 for the Malaysia India Comprehensive Economic Cooperation Agreement.
One of the highlights of the year was the opening of a sprawling 8,000 sq feet Indian Cultural centre. Classes to teach Hindi language, Karnatic music, yoga and tabla have already started. The centre was the brainchild of former premier Atal Bihari Vajpayee.
Indonesia was wracked by a series of earthquakes. However a big one in the middle of the year in Java brought back feas of a Tsunami.
Singapore saw its property prices dip sharply during the recent financial crisis and also saw its port earnings drop. However, the economy seems to have bounced back and if property prices were an indication it has hit the highs again.
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