Economic Cooperation between India and ASEAN+3: A Study of the Trade Potential of India’s Energy Sector Products
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 1
Abstract
The Association of Southeast Asian Nations (ASEAN) established on 1967 by the member countries namely Indonesia, Malaysia, Philippines, Singapore and Thailand. Initially five member countries formed ASEAN and later other five countries joined in different year. Brunei Darussalam then joined on January 1984, Viet Nam on July 1995, Lao PDR and Myanmar on July 1997, and Cambodia on April 1999 making up the ten Member States of ASEAN. ASEAN+3 cooperation initiated in 1997 with an informal Summit among the members of ASEAN and their major counterparts of world namely China, Japan and Korea. At different ministerial meeting ASEAN plus three (APT) which focused on track 1.5 initiative and different dialogues initiated for regional integration and external cooperation that lead to the advantageous for increasing regional integration and external cooperation among different member counties of ASEAN+3. The primary objectives of our study are to identify major tradable products of the energy sector of India and cluster them as per their trade potential and identify the scope of trade and welfare creation if formation of RTA established among ASEAN+3 member countries. In this study, the scope of energy sector has been kept confined to products and equipment directly associated with energy access. Energy security has been kept outside the purview of this present study. Using 6-digit Harmonized System (HS-codes) of classification for both renewable and non-renewable energy, a list of 270 products and major equipment, associated with renewable and non-renewable energy sector, have been identified for preliminary analysis of India’s trade potential of energy sector products in the this region. Various clusters of products and equipment associated with energy sector have been formed. The clusters have been made on the basis of seven different parameters which are commonly used for analyzing trade date. For each product, values for these seven parameters have been estimated using past trade data (2009-13). Primarily, WITS data has been used. And to understand intra-industry trade (IIT), the Grubel-Lloyd index has been used.FK index has been used to understand the trade creation and trade diversion potential of the trading partners. SMART package has been used to estimate welfare gains for ASEAN member countries.
Authors and Affiliations
Kallal Banerjee, Dr. Dipankar Dey
Keywords
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- EP ID EP409547
- DOI 10.9790/487X-2001065670.
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