HYDERABAD, May 5: Indian Prime Minister Manmohan Singh envisaged on Friday a vast free trade area driving Asia’s future economic growth in his opening address at the Asian Development Bank’s annual meeting.
“We are linking India into a web of partnerships with the countries of the region through free trade and comprehensive economic cooperation agreements,” said Singh.
“This web of engagements may herald an eventual free trade area in Asia covering all major Asian economies and possibly extending to Australia and New Zealand.
“This pan-Asian FTA could be the future of Asia and will, I am certain, open up new growth avenues,” he said.
More than 3,000 delegates including finance ministers, business leaders and representatives from global organisations are attending the ADB’s annual board of governors meeting to focus on Asian development challenges.
The prime minister also told the meeting, which was to focus on expanding free trade and eliminating poverty, that India was committed to expanding economic partnerships in Asia as part of its “Look East” foreign policy.—AFP
