Japan contributes $7-mn for SAARC
Japan has contributed an additional USD 7 million to the 'SAARC-Japan Special Fund' for furthering social and cultural exchanges with South Asia while pledging support for improving regional connectivity.
By PTI |
NEW DELHI: Japan has contributed an additional USD 7 million to the 'SAARC-Japan Special Fund' for furthering social and cultural exchanges with South Asia while pledging support for improving regional connectivity.
Addressing the 14th SAARC Summit here as an observer, Japanese Foreign Minister Taro Aso said, the government of Japan shall cooperate more with SAARC to achieve better regional connectivity and is keen on supporting priority projects.
The seven million dollars fund is especially for financing youth activities. Japan will receive over 500 high school and university students from the SAARC countries every year.
Japan is also expecting to increase its investment in India to USD 5.5 billion from only USD 515 million in 2006, according to spokesman of the Japanese Foreign Ministry.
The investment will be mainly in the automobile sector.
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"We hope to finalise the Free Trade Agreement with India within this year and this is key to investment," the spokesman said.The country would also work together with the Asian Development Bank to improve transportation in the region and improve disaster management.
Besides, it stated its support to the democratisation process in Nepal and Bhutan. MORE PTI PR JM PC HK 04031156 DEL In his address, Aso said as part of the SAARC as observer nation, Japan was advancing a new initiative to create an Arc of freedom and prosperity.
"The outer rim of the Eurasian Continent has seen historic transitions in many countries. A new frontier, or an arc, has emerged. It is a growth region, more stable than ever, committed to universal values. South Asia indeed makes a central pillar of the Arc," he said.
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He said when Japan's post-war economic miracle was yet to take shape, South Asia helped its people and India and Pakistan provided Japan with crucial materials like iron ore and raw cotton. Download
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