BackAt Laos, Narendra Modi, Shinzo Abe discuss ways to boost economic ties
India PM Narendra Modi and Japan's Shinzo Abe talk of further strengthening and diversification of trade, investment ties and cooperation on terror
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New Delhi: India and Japan on Wednesday discussed ways to boost economic ties, with Prime Minister Narendra Modi saying Asia’s second- and third-largest economies could unleash their prowess in technology, youth and market potential to produce global products.
Modi who met Japan’s Prime Minister Shinzo Abe in Laos capital Vientiane, on the sidelines of the East Asia Summit, also discussed ways to intensify cooperation in countering terrorism.
Indian foreign ministry spokesperson Vikas Swarup quoted Abe as saying that “Japan was not going to succumb to terrorism and wanted to further strengthen cooperation with India in the area of counter-terrorism."
At least half-a-dozen Japanese nationals were among the 30 or so people who were killed when Islamist militants targeted the Holey Artisan Bakery in Dhaka on 1 July.
And at least two Japanese nationals, held hostage by the Islamic State group, were killed in June.
According to Swarup, “The two leaders discussed further strengthening and diversification of trade and investment ties. Prime Minister Modi said that Japan has technology and innovation while India has the power of youth and a huge market. The India-Japan partnership could, therefore, produce global products and be a win-win partnership for both."
India has set up a special committee of officials to promote and facilitate the Japanese businesses wanting to set up base in Asia’s third-largest economy.
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During a visit to Japan in 2014, Modi urged Japanese businesses to consider using India as a base for manufacturing.
In Vientiane, the two prime ministers also discussed Japan’s plans to set up industrial parks in India as well as cooperation in ship-breaking.
“They also the reviewed progress...in the high-speed rail project. Prime Minister Modi expressed appreciation for the consistent support rendered by Japan in India’s infrastructure development, technology upgradation and skill-building," Swarup said. Abe added that he was looking forward to Modi’s visit to Japan later this year.
Modi is slated to attend the 14th Asean India Summit and 11th East Asia summit on Thursday. He will also have bilateral meetings with leaders of Myanmar and South Korea, with the possibility of more “pull aside" talks with the leaders of other nations.
PTI contributed to this story.
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