Distrust, trade barriers obstacles in Eurasia development: PM Modi

UFA( RUSSIA): Aspects like distrust between countries, long-standing disputes, trade barriers and terrorism can pose obstacles in the development of Eurasian region, Prime Minister Narendra Modi said here tonight.

Addressing a dinner meeting of leaders from 12 countries, including Russia and China, he specially voiced concerns over terrorism, saying the threat is "beyond imagination" and "long-term."

"We have to build a future in which all resources will be required to ensure development. It will take us a few steps," he said.

Listing these, he said, "The First, we should have peace in the region. We will have to create an atmosphere of goodwill and trust."

He noted that there long-standing issues and unresolved questions."But in building a collaborative future, differences and disputes should not be allowed. All that is necessary for the advancement of permanent peace in the region."

Second, Modi said, is that the countries must eliminate barriers to trade and logistics arrangements need to be improved.

New institutions also need to be developed for regional development, such as the BRICS New Development Bank which provides long-term finance of the new facility, he said.

"Finally, we have terrorism, extremist forces and other international crimes such as money laundering... The threat of terrorism is beyond our imagination and long-term," he said.

"These have the potential to create obstacles in the development of the region," he said.