India calls to create Asian free-trade zone

Prime Minister Manmohan Singh, speaking on the sidelines of ASEAN talks that are mulling proposals for European-style economic integration, threw India’s full weight behind the proposal, calling the 21st century an “Asian” century.

“The challenge that faces all of us today is to create and maintain a regional and international environment that enables us to attain and sustain high rates of economic growth,” he said.

“Economic activity cannot be confined to national borders, it must be channeled to fuel growth in each other’s countries,” he said, urging nations of the region to “move faster than they are wont to do.”

“I am convinced that this is the only way to move forward, and India wishes to associate with other like-minded countries to make it happen.”

Singh compared a potential Asian free-trade zone to North America and the European Union, and said it should lead to “explosive growth” that would lift all the societies of the region.

“This will not be easy and it cannot be done in a day. There will be skeptics, but for believers it is eminently possible,” he said.

The Indian leader also pledged to reduce tariffs in line with those of ASEAN nations, and said he expected bilateral trade between India and the group to double to US$30 billion by 2007.

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