India, ASEAN to look at ways to address food price volatility

BRUNEI: To address the issue of volatility in food prices, India and ASEAN countries will share their expertise to boost their food security planning activities.

The issue was discussed at the 11th India-ASEAN Summit held here today.

Sultan of Brunei Haji Hassanal Bolkiah, who chaired the Summit, in a statement said ASEAN leaders welcomed India's 'Look East Policy' within the framework of their strategic partnership.

"We took note of the enhancement and strengthening of co-operation on food security through the widening of food production base and exchange of expertise between ASEAN and India to enhance resilience in food security planning to address price volatility of food commodities," he said.

Prime Minister Manmohan Singh addressed the summit and said that over two decades, India and ASEAN have established a comprehensive agenda of cooperation and a wide-ranging framework to pursue it.

"Today, we stand on the threshold of the third decade of our engagement. In keeping with our substantial achievements, the recent elevation of our ties to a strategic partnership and the rich potential of our cooperation," he said.

ASEAN (Association of South East Asian Nations) is a grouping of ten nations -- Brunei, Indonesia, Malaysia, Myanmar, Singapore, Thailand and Vietnam.

Leaders from the region also encouraged India to support the implementation of the roadmap for an ASEAN Community (2009-15). Besides, they asked India to contribute to ASEAN Community Post-2015 Vision, among others.