PHNOM PENH, Cambodia – The 10th ASEAN-India Summit began Tuesday (November 20th), with the goal of hammering out a wide-ranging trade pact among the ten members of Association of Southeast Asian Nations (ASEAN) and six dialogue partners, including India, local media reported.

The Indian Express reported that the potential deal would flatten trade and investment barriers, allow New Delhi to tap oil and gas resources in countries such as Brunei, Vietnam and Malaysia, and pave the way for free movement of professionals – including doctors, engineers and accountants – across the region for employment.

India is keen to reverse its shrinking exports to Southeast Asia, which together with contracting exports to Europe, reduced total exports by 8% in the April-September period, the newspaper added. Exports to Europe contracted by 12% and by 20% to Southeast Asia in the same period.

IANS cited an Organisation for Economic Co-operation and Development (OECD) report released Sunday that projects ASEAN nations will average an annual growth rate of 5.5% in 2013-2017.

The ASEAN members are Brunei, Cambodia, Indonesia, Laos, Malaysia, Burma, the Philippines, Singapore, Thailand and Vietnam. The six dialogue partners include Australia, China, India, Japan, South Korea and New Zealand.