East Asia Summit | Gist of Rajya Sabha TV / RSTV (now Sansad TV) - UPSC PDF Download

Introduction:

The East Asia Summit is the Indo-Pacific’s premier forum for strategic dialogue at which all key partners meet to discuss political, security and economic challenges facing the Indo-Pacific. This forum has an important role to play in advancing closer regional cooperation. There are 18 members including the ten ASEAN countries along with Australia, China, India, Japan, New Zealand, the Republic of Korea, Russia and the United States. In 2020 EAS members represented 54 per cent of the world’s population and accounted for 62 per cent of global GDP worth an estimated US$52.3 trillion. India participated, as a founding member, in the inaugural East Asia Summit held in Kuala Lumpur on 14 December 2005. Since then this forum has played a significant role in the strategic and geopolitical evolution of East Asia. It is also an important platform for furthering practical cooperation in the Indo-Pacific by building upon the convergence between ASEAN Outlook on Indo-Pacific and Indo-Pacific Ocean’s Initiative. At the 16th East Asia Summit held, Leaders discussed matters of regional and international interest and concern including maritime security, terrorism, and Covid-19 cooperation.

Significance:

Background:

About East Asia Summit:

• EAS is an initiative of ASEAN and is based on the premise of the centrality of ASEAN.
• It is a forum held annually by leaders of 18 countries in the East Asian, Southeast Asian and South Asian regions.
• EAS meetings are held after annual ASEAN leaders’ meetings.
• The first summit was held in Kuala Lumpur, Malaysiaon 14 December 2005.
• There are six priority areas of regional cooperation within the framework of the EAS. These are – Environment and Energy, Education, Finance, Global Health Issues and Pandemic Diseases, Natural Disaster Management, and ASEAN Connectivity. India endorses regional collaboration in all six priority areas.

Importance:

• EAS, representing nearly 50 per cent of the world’s population and over 20 per cent of global trade, is a mega gathering and is a testimony to the rise of Asia.
• EAS is a region of strong and fast growing economies. It is considered the third pole of world economy after the US and Europe. Its four major economic players namely Japan, China, India and Korea are among the twelve largest ranking global economies.
• Financial and monetary cooperation between ASEAN+6 or EAS countries could be an area of fruitful cooperation in view of the fact that their combined foreign exchange reserves exceed $ 3 trillion.

Indo- Pacific:

• The idea of the Indo-Pacific as a single strategic space is an outgrowth of China’s growing influence in the Indian Ocean region. It signifies the interconnectedness of the Indian and Pacific Oceans, the importance of the oceans to security and commerce.

Importance of Indo-Pacific region:

• Maintaining regional stability.
• Strong ties with the US are seen as a vital tool for enhancing India’s strategic posture.
• For the long-term vision of national interest.
• China’s increasingly active presence in the Indian Ocean region as well as its efforts to expand geopolitical reach in Asia and beyond by the use of trade and military.
• For adhering to freedom of navigation, adherence to rules-based order and stable trade environment.
• For free sea and air lanes, connectivity and upholding international rules and norms.

Role and Implications for India in the Indo – pacific region:

• The Indo-Pacific, as described in the National security strategy, represents the most populous and economically dynamic part of the world and stretches from the west coast of India to the western shores of the United States.
• India has always been a country with great national ambitions and is one of the most important advocates of the concept of “Indo-Pacific Strategy”.
• With opening of economy, India has been connecting with its Indian Ocean neighbours and major maritime powers of the world.

Significance for India:

• For India, EAS acts as an alternative to the APEC in which India doesn’t enjoy the membership.
• India’s membership to the EAS is a recognition of its fast growing economic and political clout.
• Act East policy of India: In order to build multi-faceted relations with ASEAN and other multilateral nations and strengthen bilateral relations India has emphasised upon its Act East Policies for which EAS will prove crucial.
• China’s assertiveness in the South China Sea and the nature of its growing investments has led the ASEAN countries to view India as a potential power that could balance a rising China.
• India’s strength lies in service sector and information-technology and Japan has a sound capital base. Thus there are complementarities in trade and production structures of the EAS members.
• India’s deep cultural and civilizational links with the EAS countries are widely known. India can play a major role in cultural and people to people cooperation with the region, which can reinforce the economic momentum for community building.