Vientiane [Laos], October 10 : Prime Minister Narendra Modi on Wednesday stated that the 21st century is the century of India and ASEAN countries highlighting that in the last decade India's Act-East policy had provided a "new energy, direction and momentum" to the historic relations between India and ASEAN nations.
He said that during a time of conflict and tension that has surrounded many parts of the world, the friendship, cooperation, dialogue and cooperation of India and ASEAN were very important.
Addressing the 21st ASEAN-India summit in Vientiane, PM Modi highlighted the launch in 1991 of the Indo-Pacific Ocean initiative that complements the ASEAN Outlook in the region.
"I had announced India's Act-East policy. In the last decade, this policy has given new energy, direction and momentum to the historic relations between India and ASEAN countries. Giving prominence to ASEAN, in 1991 we launched the Indo-Pacific Ocean Initiative. This complements the ASEAN Outlook on the Indo-Pacific," he said.
"I believe that the 21st century is the century of India and ASEAN countries. Today, when there is a situation of conflict and tension in many parts of the world, the friendship, cooperation, dialogue and cooperation of India and ASEAN are very important," he added.
He stated that in the last 10 years, the trade between India and the ASEAN region has almost doubled, exceding USD 130 billion.
He further added that the establishment of fintech connectivity is also being replicated in the ASEAN nations, similar to what was done in Singapore.
"Last year, maritime exercises for regional security and stability were started. In the last 10 years, our trade with the ASEAN region has almost doubled to over 130 billion dollars. Today, India has direct flight connectivity with 7 ASEAN countries and soon direct flights will start with Brunei as well. We have opened new consulates in Timor Leste. Singapore was the first country in the ASEAN region with which we established fintech connectivity and now this is being replicated in other countries as well," he added.
PM Modi emphasised the people-centric approach and said that it was the basis of the development partnership between the two regions.
He said that more than 300 ASEAN students benefitted from scholarships at Nalanda University and that a network of universities had also been launched.
PM Modi further said that India had contributed more than USD 30 million for the establishment of the Science and Technology Fund, Digital Fund and Green Fund for cooperation across various fields in the region.
"People-centric approach is the basis of our development partnership. More than 300 ASEAN students have benefitted from scholarships at Nalanda University. A network of universities has been launched. Efforts have been made to preserve shared heritage and heritage in Lao, Cambodia, Vietnam, Myanmar, and Indonesia. Whether it is the Covid pandemic or a natural disaster, we have helped each other. The Science and Technology Fund, Digital Fund and Green Fund have been established for cooperation in various fields and India has contributed more than 30 million dollars in these," he said.
Prime Minister Modi is visiting Laos at the invitation of Laos's Prime Minister, Sonexay Siphandone.
He will also be participating at the 19th East Asia Summit there. His visit is significant as this year marks a decade of India's Act East Policy.
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