Noda :Japan a fresh loan of about 2.26 billion US$ to India

Posted on November 20, 2012

East Asia Summit, Japanese Prime Minister Yoshihiko Noda announced that Japan will give a fresh loan of about 2.26 billion US dollars for the second phase of Dedicated Freight Corridor and an infrastructure project in South India.Dr. Singh, who also met his Chinese counterpart Wen Jiabao yesterday, invited Chinese investments in the infrastructure sector while conveying India’s concerns over trade imbalance. Wen said India’s concerns could be addressed gradually.
During his address to the East Asia Summit of 18 countries today, Dr. Singh advocated establishing of a common set of principles and cooperative mechanisms to deepen economic integration and ensure open, inclusive and rule-based architecture in the Asia Pacific region. Prime Minister also asserted that forums such as the East Asia Summit can help create a large economic community in the ASEAN region that will accelerate development and enhance prosperity, besides reinforcing mutual understanding and confidence in the region. His remarks came against the backdrop of a row between china and other East Asian countries the over South China Sea.A host of issues came up for discussion in the Summit including intensifying economic engagement, strengthening connectivity and maritime security particularly in the South China Sea. Terrorism, investment in infrastructure sector in India, piracy also came up for review in the bilateral meetings. In his address to the India-ASEAN summit he advocated to create a cohesive South Asian community. Dr. Singh described ASEAN grouping as an important economic and strategic partner. Prime Minister unveiled India’s vision for South Asia in his remarks in the East Asia summit.
At the India-ASEAN Summit yesterday, Dr. Singh announced that India was ready to conclude the much-delayed Free Trade Agreement in Services and Investment with the 10-nation grouping by next month that will provide a springboard for rapid expansion in ties, as he invited investments from the region citing enormous opportunities.
Contending that enhanced cooperation between India and ASEAN was crucial for promotion of peace, security and stability in the region and addressing shared challenges, Dr. Singh said the agreement in Services and Investment with ASEAN will send a strong signal of deepening economic engagement.