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Shri Kamal
Nath, Union Minister of Commerce & Industry, has
said that the ASEAN plus Chindia (China and India)
will become a global powerhouse to be reckoned with
united in a mutually beneficial relationship.
Participating in Roundtable Discussion at the East
Asia Summit of the World Economic Forum in Tokyo
today on “ASEAN’s Strategic Challenge: How will it
compete with Chindia”, he underlined that “ASEAN
does not face a threat or a strategic challenge
vis-à-vis India and China. The issue at hand is not
ASEAN versus Chindia but ASEAN plus
Chindia. Given the strengths of ASEAN and the
growing muscle of India and China, the scope for
constructive cooperation is immense and we believe
this is the direction the region should take”.
This, he said, would be logical in view of their
natural complementarities, since ASEAN had an
abundance of natural resources as also significant
technological skills, which provided a natural base
for the growth of synergies and integration between
ASEAN, China and India in both trade and
investment.
“We strongly believe the future of Asia lies in
ASEAN plus Chindia. Competing for the world’s
investment resources individually will certainly
bring gains to each country. Competing for them as a
regional powerhouse will widen and deepen the
advantages of globalisation that will truly make the
region what management gurus call ‘The Next Big
Thing’,” he said.
Pointing out that a pragmatic search for reciprocal
self-interest had, in fact, been the fulcrum of
India’s “Look East” policy, he said: “We have
already concluded a comprehensive Economic
Co-operation Agreement (CECA) with Singapore and are
close to finalising a similar Agreement with ASEAN
and Thailand. Such agreements aim to leverage the
rich reservoir of talent and resources of the region
to pull our economies out of poverty and build a new
Asia”.
Earlier, speaking at the Plenary Session of East
Asia Summit on “Asia’s Growth Model: Can it Continue
to Sustain Itself?”, Shri Kamal Nath answered the
question whether the growth momentum in India would
continue, and said: “I believe we can. I am
convinced that the demographic trends that are
emerging will lead to changes in economic policies,
and hasten the pace of economic reforms. Over half
of the population is less than twenty-five years of
age. As this cohort enters the workforce, they will
bring a new mindset less attached to older,
interventionist policies. They will want India to
change and change quickly”.
New Delhi,
June 15, 2006 |
