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Manmohan Singh urges ASEAN leaders to ensure co-operation in growth policies |
Indian Prime Minister Manmohan Singh
on Sunday called the international community to learn lessons from the global
economic crisis and ensure co-operation in growth policies. Addressing the 7th
India- ASEAN summit here, Dr. Singh said: “We must learn lessons from the global
economic crisis. One of these is the need to ensure coordination in our growth
policies. The other is to keep the real economy strong and sound.” “We agree with
Japan that greater emphasis has to be laid on growth of domestic demand. And the
third is to keep the flows of trade, technology and investment open, orderly and
predictable,” he added. Drawing the attention of the east Asian leaders to the
Kuala Lumpur declaration which called for an open, inclusive, transparent and
outward looking forum in the region, Dr. Singh said India-ASEAN need to move forward
in this direction, and exhibit the requisite political will. He added that the
economic integration among the East Asian countries could generate billions of
dollars of additional output. Calling for the need to establish a broader Asian
Economic Community, Dr. Singh said: “The vision of Asian economic integration
by coalescing the Free Trade Agreements among member Asian countries into an Asian
Regional Trade Agreement is a pivotal step towards the integration of Asia into
a common unit. This can lead to the creation of a broader Asian Economic Community.”
He said that the countries should focus on generating stronger domestic demand
in Asian economies through investment in infrastructure, creation by strengthening
the social welfare net, skill development of workforce through environmentally
sustainable and inclusive growth. Welcoming the recommendations of the Phase II
Report on a Comprehensive Economic Partnership in East Asia , the Indian premier
said the realization of roadmap for economic and financial integration, would
be the right step forward. The Phase II report on Comprehensive Economic Partnership
in East Asia recommend three pillars for financial integration -- economic co-operation,
facilitation and liberalization. Dr. Singh said India would be happy to contribute
1 million US dollars over a period of ten years for enlarging the activities of
Economic Research Institute of ASEAN and East Asia (ERIA), which generated a blueprint
for financial and economic integration of the EAS region. On setting up of Nalanda
International University in Bihar as mark of East Asian co operation Dr. Singh
said: “We are greatly encouraged that the Summit will adopt a Statement on the
establishment of the Nalanda University in the State of Bihar in India . This
has been the product of many months of hard work put in by the Nalanda Mentor
Group, and will be a shining example of cooperative action in the field of education.”
Describing the issues related to global climate change, as a major challenge being
faced by the world Singh said this will affect severely to the developing and
fast growing economies in Asia and called for a sustainable growth plan for the
region. “The EAS process should come up with a workable model of sustainable development.
Financing and technology transfers are its key elements. The challenge before
us is to find a global mechanism which, while safeguarding the incentives for
innovation and development of environment friendly technologies in the private
sector, also simultaneously ensures the availability of such technology to developing
countries at an affordable cost,” he said. Expressing concern over the act of
terrorism being faced by the countries in the region Dr. Singh called for a concerted
and cooperative action in the coming period to end the menace. “Many of our countries
face the spectre of terrorism. There are growing threats from non-traditional
sources, such as piracy, transnational groups and extremist ideologies. This will
increasingly require a concerted and cooperative response in the coming period.”
Dr. Singh also urged the East Asian leaders to pay a greater attention to issues
of social exclusion, and regional imbalances in development and also for the fight
against pandemics and collaboration in disaster management. Dr. Singh expressed
confidence that ASEAN will emerge as an oasis of peace, stability and prosperity
in a fast changing world. |
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