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India Calls for Trade linkages with



India calls for trade linkages with Asean

New Delhi, Feb.9: Despite the recent turmoil in South East Asian
financial markets, India on Monday expressed its faith in the Asean
countries' economic policies overcoming the crisis and conveyed its
determination to continue Asean-India Cooperation.

Speaking at the first Asean-India Senior Officials' Meeting, foreign
secretary K. Raghunath extended India's solidarity and hoped Asean
members would continue to be a valued partner in the achievement of
India's own development objectives.

Going a step further, he said the recent economic developments in the
Asean provided a new rationale for establishing Asean free trade area 
India linkages as these would open up new windows of growth for both.

Mr. Raghunath said India looked with interest at transitional mechanisms
that could be put in place by India or that India would participate to
facilitate the financing of trade and joint ventures between India and
Asean.

The foreign secretary said this could include government to government
credit, Exim Bank credit and special payment arrangements. The SOM is
the first to be held after India become a full dialogue partner of the
30 years old Asean in 1996.

The SOM was co-chaired by Mr. Raghunath, Singapore foreign secretary
Kishore Mahbubani. Singapore is the Asean " country coordinator" for
interactions with India under the full dialogue partnership.

It was also attended by Mr.Rodolfo C. Severnio, secretary general of
Asean and eight other Asean officials.

An external affairs ministry spokesman said the SOM undertook a
comprehensive review of Asean-India relations in the political,
strategic, economic, cultural, and other functional areas. The close
cooperation including the growing economic and commercial ties in the
mutually identified areas of cooperation. (UNI)

The Asean Age
10th February 1998