announces $1 bn credit for India & ASEAN connectivity
AMN
Prime Minister Narendra Modi has said that terrorism has emerged as a global challenge affecting all countries, and stressed on enhanced co-operation at the regional and international level by adopting the Comprehensive Convention on International Terrorism.
Addressing ASEAN-India Summit in Kuala Lumpur today, Mr. Modi announced a line of credit to the tune of one billion US dollar to promote projects that support physical and digital connectivity between India and ASEAN countries.
Mr Modi said special emphasis will be given to partnership with Cambodia, Laos, Myanmar and Vietnam.
Both ASEAN countries and India agreed to enhance the economic and trade ties upto 100 billion dollar by 2020.
Prime Minister said India intends to create a Project Development Fund to encourage manufacturing hubs in these countries.
India reiterated its stand on South China Sea dispute.
Prime Minister said all maritime disputes should be resolved through peaceful dialogue and felt that Right of Passage and access to resources should be maintained under the 2002 declaration.