New Delhi: India and ASEAN will consider 'new initiatives' to accelerate the process of economic engagement in the region, Prime Minister Manmohan Singh said today.

Singh, who left on a three-day visit to Philippines city of Cebu to attend the India-ASEAN and East Asia summits, said he would also explore steps both sides can take to hasten the conclusion of the India-ASEAN free trade agreement.

"Our participation in both these summits is a reflection of the increasing significance of the eastern orientation of India's foreign policy and our quest for closer engagement with countries of East Asia," he said.