PM Modi, Australia PM Turnbull hold bilateral meeting — ASEAN Summit

PM Modi, Australia PM Turnbull hold bilateral meeting — ASEAN Summit

Launched in November 2012, RCEP targeted to cover trade-in-goods and services, investments, economic and technical cooperation, intellectual property rights, competition policy and dispute settlement, among others. He is set to also attend the 12th East Asia meet on Tuesday.

PM Modi first held bilateral talks with Australian Prime Minister Malcolm Turnbull and discussed close cooperation to optimize the significant potential for further collaboration across a broad range of areas.

Roque said the ASEAN and USA also called of a peaceful dialogue to ease the tension in the Korean peninsula.

On Sunday, India, Australia, Japan and the U.S. held their first meeting to give shape to the much talked about quadrilateral alliance to keep the Indo-Pacific region "free and open".

"We are committed to curtailing the threat of terrorism and violent extremism through information sharing and law enforcement cooperation, including through our Southeast Asia Aviation and Border Security program, as well as strengthening data exchange with Interpol", it added.

Prime Minister Modi also called for concerted efforts by countries of region to deal with terrorism and extremism.

"The ASEAN-US partnership plays an increasing role in addressing transnational challenges. We reviewed the ground covered on various aspects of India-Japan ties and discussed ways to deepen cooperation between our economies and people", Modi tweeted.

The issue of China's aggressive posturing figured prominently during the ASEAN summit also. However, several ASEAN member countries including Vietnam, Philippines and Brunei have counter claims.

Prime Minister Narendra Modi said ASEAN began in times of a great global divide, but today, it is shining as a beacon of hope.

The East Asia Summit is a forum held annually by leaders of 18 countries including ASEAN nations India, the U.S. and Russian Federation.

The trade between India and ASEAN nations stood at $71 billion in 2016-17 and comprises 10.85 percent of India's total trade with the world.

Apart from the 10 ASEAN Member states, East Asia Summit includes India, China, Japan, Republic of Korea, Australia, New Zealand, United States and Russian Federation.