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The prime minister was addressing the eighth East Asia Summit in Brunei.
He also announced that India will soon set up a separate Mission to the ASEAN (Association of South East Asian Nations) in Jakarta with a full-time resident ambassador.
Singh said the Asian meeting is taking place at a time “when the need for collective action, cooperation and collaboration in the Asia Pacific region has never been felt more acutely.”
“Global economic uncertainty and political turmoil in other parts of the world have impacted countries in our region equally.
“Clearly, the potential of unprecedented prosperity for our peoples can be realised only by inculcating a cooperative temper,” the prime minister said.
Singh on Thursday welcomed the commitment shown by all sides in adhering to the 2002 Declaration on the Conduct of Parties in the South China Sea.
“We should reaffirm the principles of maritime security, including the right of passage and unimpeded commerce, in accordance with international law, and peaceful settlement of maritime disputes,” he said.
“A peaceful South China Sea is a blessing for all. We need to work together to make the South China Sea a sea of peace, friendship and cooperation,” Li said.
“The Regional Comprehensive Economic Partnership, has given us a roadmap for regional economic integration that can reinforce growth and accelerate development across the region, besides enhancing mutual stakes in regional stability and security. India remains fully engaged in and committed to the RCEP process,” he said in Brunei Darussalam.
RCEP negotiations were launched by the ASEAN+6 leaders on the sidelines of the 21st ASEAN Summit in Cambodia late last year.
The RCEP could potentially lead to the creation of one of the world’s largest free trade areas, establishing an integrated market comprising of three billion people with a combined GDP of about $17.23 trillion.
The BRICS Post