Five, This region, and all of us, have benefitted from globalisation. Indian food is among the best examples of these benefits! But, there is growing protectionism – in goods and in services. Solutions cannot be found behind walls of protection, but in embracing change. What we seek is a level playing field for all. India stands for open and stable international trade regime. We will also support rule-based, open, balanced and stable trade environment in the Indo-Pacific Region, which lifts up all nations on the tide of trade and investment. That is what we expect from Regional Comprehnsive Economic Partnership. RCEP must be comprehensive, as the name suggests, and the principles declared. It must have a balance among trade, investment and services.
Six, Connectivity is vital. It does more than enhance trade and prosperity. It unites a region. India has been at the crossroads for centuries. We understand the benefits of connectivity. There are many connectivity initiatives in the region. If these have to succeed, we must not only build infrastructure, we must also build bridges of trust. And for that, these initiatives must be based on respect for sovereignty and territorial integrity, consultation, good governance, transparency, viability and sustainability. They must empower nations, not place them under impossible debt burden. They must promote trade, not strategic competition. On these principles, we are prepared to work with everyone. India is doing its part, by itself and in partnership with others like Japan – in South Asia and Southeast Asia, in the Indian Ocean, Africa, West Asia and beyond. And, we are important stake-holders in New Development Bank and the Asian Infrastructure Investment Bank.
Finally, All of this is possible, if we do not return to the age of great power rivalries I have said this before: Asia of rivalry will hold us all back. Asia of cooperation will shape this century. So, each nation must ask itself: Are its choices building a more united world, or forcing new divisions? It is a responsibility that both existing and rising powers have. Competition is normal. But, contests must not turn into conflict; differences must not be allowed to become disputes. Distinguished members of the audience, It is normal to have partnerships on the basis of shared values and interests. India, too, has many in the region and beyond.
We will work with them, individually or in formats of three or more, for a stable and peaceful region. But, our friendships are not alliances of containment. We choose the side of principles and values, of peace and progress, not one side of a divide or the other. Our relationships across the world speak for our position.
And, when we can work together, we will be able to meet the real challenges of our times. We will be able to protect our planet. We will be able to ensure non-proliferation We will be able to secure our people from terrorism and cyber threats.
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