President Biden and Prime Minister Kishida DISCLAIMER - This is the approximate translation of Prime Minister’s remarks. Original remarks were delivered in Hindi.
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It gives me pleasure to be associated with you all in this important event today. The Indo-Pacific Economic Framework is a declaration of our collective will to make the region an engine of global economic growth. I thank President Biden very much for this important initiative. The Indo-Pacific region is the center of manufacturing, economic activity, global trade and investment. History is witness to the fact that India has been a major center in the trade flows of the Indo-Pacific region for centuries. It is worth mentioning that the world's oldest commercial port was in Lothal in my home state of Gujarat, India. Therefore, it is essential that we find common and creative solutions for the economic challenges of the region.
India will work with all of you to build an inclusive and flexible Indo-Pacific Economic Framework. I believe that there should be three main pillars of resilient supply chains: Trust, Transparency and Timeliness. I am confident that this framework will help strengthen these three pillars, and pave the way for development, peace and prosperity in the Indo-Pacific region.
Thank you very much.
May 23, 2022