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I am happy to be here with Prime Minister Tony Blair, President of the European Commission Mr. Jose Manuel Barroso, Secretary General and High Representative, Mr. Xavier Solana and EU External Relations Commission Ferrero-Waldner and EU trade Commissioner Mandelson.
We have had good and productive discussions at the 6th India-EU Summit today. The most important outcome has been the adoption of a Joint Action Plan today, which provides the necessary framework for our fast evolving relations. It will be our road map for the future.
It is an ambitious and unique document, the first such detailed Action Plan that we have drawn up. It sets the signposts for the way ahead for our interaction with the EU, so that we may realize the full potential of our multi-dimensional cooperation. It builds on the common values and beliefs that India and the EU share as the world's two largest democracies, the values that make us natural partners.
Our Political Declaration on the India-EU Strategic Partnership sums up the salient features of what we wish to achieve together.
At the top of the Agenda is intensified political dialogue and cooperation, with a view to meeting common challenges and global threats, starting with terrorism. We have agreed that there is no place for terrorism in the civilized world and that we would work together towards fighting it. We have agreed on a detailed framework indicating how we would enhance our co-operation in this very important area.
We also agreed that without credible and effective global institutions it would be impossible for us to meet global challenges. We reiterated our shared belief in the central role that the UN needs to play in the contemporary world.
We would also establish a security dialogue on global and regional security issues, disarmament and non-proliferation.
We have made significant progress on the economic cooperation, and trade and investment side as well. In This context , I am happy to announce that our government has today cleared the purchase of 43 Airbus aircraft for Indian Airlines. The value of this contract will be in the region of 2.2 billion dollars. Through this deal. We hope to raise our bilateral economic partnership and our interaction in the civil aviation sector to new heights. We have also had constructive discussions on how to increase bilateral trade and investment flows. We look forward to working together with Europe in the newly constituted Energy Panel and its Working Groups.
We have also urged the EU to revisit and review technology export control regimes that create a restrictive environment for technology transfers to India. India's impeccable record in this area is well known and we hope that the EU will respond positively.
The EU has welcomed our participation in the International Thermonuclear Experimental Reactor (ITER). I would like to thank them for the most helpful role they have played in this regard.
Today, we have signed the Framework Agreement on India's participation in the EU's Global Navigation Satellite System (Galileo). This will set the stage for our cooperation in a vital area, which we believe will be mutually beneficial for both sides.
The Action Plan also covers several other areas on which the two sides are committed to work: Climate Change, Science and Technology, R&D, enhanced parliamentary exchanges, greater people to people contact and dialogue related to migration and consular issues.
I would like to take this opportunity to thank the EU for its Erasmus Mundus scholarship programme that has allocated 33 million Euros for students from India to study in the EU. This is a very welcome step that will go a long way towards improving mutual understanding and trust between young people and academic communities in India and in Europe. Nothing creates stronger and more enduring bonds than educational links. This initiative is of value today, and its value will grow many-fold over time.
I would now like to invite Prime Minister Blair and President Barroso to speak.
Thank you.