India and the Association of Southeast Asian Nations (Asean) have huge opportunities for cooperation, especially in the micro, small and medium enterprise (MSME) sector, said C R Chaudhary, Minister of State for Commerce & Industry.

In his address at the fourth India-Asean Expo and Summit here, Minister added that Asean companies can increase their investments in India in areas like medical devices, fishing and ship-building.

He said, "I would like to request the ASEAN companies to enhance increasing cooperation in MSME sector. We can increase investments in various sectors like airlines, fishing and ship building. We need medical devices and apparatus, and ASEAN companies can get an opportunity in this area."

Further, the minister said that both the sides need to think and discuss areas where trade can be enhanced.

Chaudhary said that in order to boost India-Asean economic cooperation, companies from India and the Asean can form joint ventures to start manufacturing in India.

"I would like to request the Asean companies to enhance the increasing cooperation in the MSME (micro, small and medium enterprises) sector," Chaudhary said.

He added that we can increase investments in various sectors like airlines, fishing and ship building. We need medical devices and apparatus, and Asean companies can get an opportunity in this area.

Chaudhary also said that although India-Asean bilateral trade has increased to $82.33 billion in the last fiscal, from $21 billion in 2005-06, the pace of growth has not been "up to the mark". (KNN/JM)