A project of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) to connect the countries in the Asia Pacific region with a road, would help India to improve its trade income and relations with Sri Lanka, says Minister of State for Commerce & Industry, E M Sudarsana Natchiappan.
Delivering his address as the chief guest in the 67th Annual Session of Hindustan Chamber of Commerce in Chennai, he said that the ministers from countries in the region would meet on December 14 to 17 to discuss various matters related to the project. He added that this would support an increased trade and investment activities between these countries, he added.
“If the project is decided in the meeting, we will have a bridge from Dhanushkoti in Tamil Nadu, India to Talaimannar in Sri Lanka. This will increase the transport between the two countries, instead of the current model of traveling through sea,” he said to reporters in the sidelines of the meeting. . This will also increase the trade, income and employment in both the countries.
The setting up of bridge will not affect the dream project of Sethusamudram and the Ramar Sethu, he added. The project would be developed with consent from of the countries. This will only help to improve the relation between both the countries and provide growth to the people.
The road would go through Bangladesh, Myanmar and Bangkok connecting various Association of Southeast Asian Nations (ASEAN) countries. The project is planned by UNESCAP, the regional arm of the United Nations Secretariat for the Asian and Pacific region serving as the regional hub promoting cooperation among member States to achieve inclusive and sustainable economic and social development.
In his address to the industrialists in the Hindustan Chamber of Commerce, he assured that the new Companies Act is expected to bring in more opportunities for genuine business firms in the country. He added that if it is implemented properly, it would enable the companies to become at par with the global standards, he added.
He further stated that while the Land Acquisition, Rehabilitation and Resettlement Act could be a negative one in the initial stage, but would make the industrial development process without much of an issue in the later stage.
Similarly, the Food Security Act should also be looked at a process which creates more jobs to the people. It would also enhance the agriculture, employment and industrial activities in the country in future, he added.
