"At the outset, I would like to thank President Sarkozy for the most gracious hospitality that has been extended to me and to my delegation in this beautiful city of Marsellies.

I have had very useful and constructive discussions with President Sarkozy and EC President Barroso.

Our partnership based on shared values and commitment to democracy, human rights, fundamental freedoms and pluralism is an important pillar of the emerging international order.

We shared assessments of our respective regions and exchanged ideas on major global issues. This included the current international financial crisis, need for reform of international institutions, including of the United Nations, energy and food security, climate change and terrorism.

We have agreed to achieve an annual bilateral trade turnover of 100 billion Euro within the next five years and to work towards the conclusion of the India-EU Broad based Trade and Investment Agreement by end-2008.

We reviewed the Joint Action Plan adopted in 2006 and agreed to add several new areas of cooperation. These include vocational training, post harvest technologies, exploitation of solar energy in India and civil nuclear research and development including in fusion energy. We discussed various issues related to counter terrorism, including cooperation between Europol and counterpart organisations in India.

We have also launched Joint Working Programme on Energy, Clean Development and Climate Change. This provides for collaboration in clean coal technologies, energy efficiency, renewable energy, climate change adaptation and mitigation and financing and transfer of climate friendly technologies. The Horizontal Civil Aviation Agreement between India and the EU was signed yesterday. We have also decided to work towards the finalisation of Memorandums of Understanding in the field of education and culture.

I am extremely satisfied with my discussions today. The holding of annual Summits between India and the EU reflects the importance both sides place on this relationship. It is our belief that the India-EU strategic partnership contributes to global peace, prosperity and stability. I am confident that our relations will continue to grow and diversify on the basis of the many synergies and complementarities that exist between us."