European Union has major stakes in Indo-Pacific developments: EAM Jaishankar

Pointing out that the Indo-Pacific is increasingly central to the direction of global politics, External Affairs Minister S Jaishankar has said that the European Union has major stakes in the developments in the region.

"Globalization is the overwhelming reality of our times. However far apart, regions and nations cannot be impervious to significant events elsewhere. Nor can we cherry-pick them to our convenience," he said in his concluding remarks at the EU-Indo-Pacific Ministerial Meeting in Stockholm, Sweden on Saturday (May 13, 2023).

The European Union has major stakes in Indo-Pacific developments, especially as they pertain to technology, connectivity, trade and finance, EAM Jaishankar went on to explain. Highlighting the importance of the Indo-Pacific region, he said that among the issues that it throws up, are the problems inherent in the established model of globalization.

"Recent events have highlighted the problems with economic concentration, as also the need for diversification. De-risking the global economy now involves both, more reliable and resilient supply chains, as well as promoting trust and transparency in the digital domain. EU and indeed the world, is better off with additional drivers of production and growth," the External Affairs Minister remarked.

According to him, a strategically more aware Europe "should not limit its consciousness geographically". The Indo-Pacific is a complex and differentiated landscape that is best understood through more intensive engagement, he added.

"The more European Union and Indo-Pacific deal with each other, the stronger will be their respective appreciation of multi-polarity. And remember, a multipolar world, which the EU prefers, is feasible only by a multipolar Asia," he pointed out.

He described the Quad as a platform for global good, particularly when it came to the Indo-Pacific. He also highlighted the Indo-Pacific Economic Framework (IPEF) and the Maritime Domain Awareness initiatives in addition to the Indo-Pacific Oceans Initiative (IPOI).

"Indo-Pacific and India specifically, and the European Union, need a regular, comprehensive and candid dialogue, not just limited to the crisis of the day,' EAM Jaishankar maintained.