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Modi: Nation's economy is improving
Published in The Saudi Gazette on 22 - 11 - 2015

Ten Southeast Asian heads of state and nine world leaders, including President Barack Obama, met in Malaysia to discuss trade and economic issues. Terrorism and disputes over the South China Sea were also on the agenda.
Indian Prime Minister Narendra Modi said "winds of change" are blowing through India's economy, after further market liberalization to turn the country into a global manufacturing hub.
Modi said Saturday that India's economy has improved since his government took office 18 months ago and implemented two rounds of structural and financial reforms.
He said the government is working to ensure a transparent and predictable tax regime, protect intellectual property rights through a new national policy due out soon and remove bottlenecks to make India the easiest place to do business.
However, he said reforms are "just a way station" on the long journey to transform India.
Modi told a business conference on the sidelines of a Southeast Asia summit: "We must reform to transform. ASEAN economies have done their bit for Asia's resurgence. Now, it is India's turn. And we know that our time has come. We are at a takeoff stage. I invite you to come and see the winds of change in India."
Southeast Asian nations meanwhile proposed creating a regional convention that would provide the legal framework to prevent human trafficking, especially women and children.
The leaders of 10 countries of the Association of Southeast Asian Nations made the commitment during their summit Saturday. In urging their ministers to work on the regional law, the leaders said that "victims of trafficking, mainly vulnerable women and children, have a fundamental right to be protected" in line with international laws.
Some 100 Malaysian Muslim activists protested President Barack Obama's visit to the Muslim-majority Southeast Asian nation, denouncing him as an enemy of Islam.
They chanted "Reject Obama" and held banners that read "O Terrorist, you are not welcome here," and "America's war of terrorism is a war against Islam."
Japan Prime Minister Shinzo Abe said his nation is the "best partner" for Asia as it gears up for a new growth phase toward lasting sustainable growth.
He said Japan is committed to bolster its overseas development assistance, and along with Asian Development Bank will provide $110 billion infrastructure financing over the next five years. Abe was speaking Saturday at a business conference on the sidelines of a Southeast Asia summit.
He said Asia's growth is about to transition to a new stage, which is a challenge in ensuring lasting growth. He added: "We do not impose our culture on others ... we think together and move together with the local people."
For example, he said the recipe for Japanese ramen noodle has been modified in Malaysia by using chicken broth and meat.
Obama, meanwhile, touted the Trans-Pacific Partnership trade agreement he recently struck with 11 other nations. He said that the TPP would raise the bar for human rights and fight forced labor he said was akin to modern slavery.
Obama said: "This is a prime example of America and our partners working together to shape the world we want for future generations." He was speaking at a business summit, held on the sidelines of a summit of Southeast Asian countries. Obama will attend a separate summit in Malaysia's capital on Sunday that will include other Asia-Pacific countries.
Malaysian Prime Minister Najib Razak opened a two-day regional summit with a call to defeat Islamic terrorism, saying its barbaric attacks do not represent any race or religion.
Najib was speaking Saturday at the summit of the Association of Southeast Asian Nations, a regional grouping of 10 nations that include the Muslim-majority nations of Malaysia and Indonesia. Indonesia, and the neighboring Philippines.
The main event in the summit is the launch of a unified economic community that has been eight years in the making. On Sunday, the leaders of Malaysia, Indonesia, Singapore, Brunei, Thailand and the Philippines, along with ASEAN's four less developed members, Communist Vietnam and Laos, Myanmar and Cambodia, will sign a declaration establishing the ASEAN Economic Community, originally envisioned in 2002.
Although ASEAN has helped greatly increase the region's economic and political integration, there is a long way to go before the AEC becomes fully functional after becoming a legal entity on Dec. 31.
ASEAN countries have torn down tariff barriers and have removed some visa restrictions, but they fall short in more politically sensitive areas such as opening up agriculture, steel, auto production and other protected sectors. — AP


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