India strengthens ties with SICA countries, focuses on trade and digital payments: EAM

New York [US], September 26 (ANI): External Affairs Minister S Jaishankar highlighted India’s deepening engagement with the countries of the Central American Integration System (SICA) and underscored key areas of collaboration, including trade and digital payments, during the India-SICA Foreign Minister’s Meeting.

Speaking at the India-SICA Foreign Minister’s Meeting in New York, Jaishankar expressed optimism about the growing interest of Indian companies to invest in SICA economies, especially in agriculture, renewable energy, pharmaceuticals, and information technology sectors.

He noted, “We are very encouraged by the growing interest of Indian companies to invest in SICA countries, in SICA economies, particularly in agriculture, in renewable energy, in pharmaceuticals, and in IT.”

The Minister underscored India’s commitment to fostering closer economic ties with SICA countries and emphasised collaboration in key sectors vital for sustainable growth in the region.

A significant part of India’s digital transformation has been the success of the Unified Payments Interface (UPI), a system that has revolutionised cashless transactions. “At the same time, our payments, digital payments interface, called the UPI, we’ve actually had great success in ensuring a seamless, real-time, and secure method of transferring funds. Today, more than half of the world’s cashless payments take place in India because of this,” Jaishankar remarked.

He further added that UPI, being a low-cost, high-efficiency system, could be adapted to the economies of SICA countries to enhance their payment ecosystems. “We would be very happy to work with SICA partners to see how this digital payments system can be applied to your economies if there is such interest,” he said.

Over the past decade, India’s relations with SICA countries have seen a marked improvement, and Jaishankar acknowledged this growing cooperation.

“Over the past decade, India’s engagement with SICA has deepened significantly. We have had high-level visits that demonstrate a commitment to closer ties with Central America,” he said.

While acknowledging the challenges of the current geopolitical and economic climate, Jaishankar expressed his desire to visit the region in the near future.

He mentioned, “I have myself been to Panama and the Dominican Republic. I intended to visit the region this year. Unfortunately, a lot of our attention has gone to trade-related concerns, which are understandable in the current situation. But I certainly look forward to doing so next year.”

He also referred to the visits of his deputy, Union Minister of State for External Affairs Pabitra Margherita, to multiple SICA countries, including the Dominican Republic, Guatemala, El Salvador, Panama, and Nicaragua, reflecting India’s commitment to strengthening bilateral ties.

“But my deputy, Pabitra Margherita, has visited the Dominican Republic, Guatemala, El Salvador, Panama, and Nicaragua in the last two years…I will be coming to you, too. These reflect our growing partnership and our commitment to advancing cooperation across multiple domains,” he said.

Futher, Jaishnkar highlighted that India views SICA as a key partner in the context of South-South cooperation, an approach that recognises the shared challenges faced by countries in the Global South.

Jaishankar pointed out, “India regards SICA as a key partner in the framework of South-South cooperation. Our countries face similar challenges of development, poverty alleviation, and climate change, and we can address these more effectively if we address them together.”

He described the meeting as an “opportunity to exchange perspectives on development.”

“Today’s meeting gives us an opportunity to exchange perspectives on our development, on our view of the world and on the possibility of cooperation between us,” he affirmed.

The minister also referred to the Mechanism for Political Dialogue and Cooperation, established in 2023, which reinforced the mutual desire to deepen collaboration. “At our last meeting of the Mechanism for Political Dialogue and Cooperation, which was held in Panama City in April 2023, we reaffirmed the value of our partnership and agreed on the need to deepen cooperation,” Jaishankar said.

On the sidelines of the India-SICA Foreign Ministers’ Meeting, Jaishankar met with Panama’s Foreign Minister, Javier Martinez-Acha

“Good to meet FM @javierachapmaof Panama on the sidelines of the India-SICA FMM. Discussed our bilateral ties and cooperation in multilateral fora,” Jaishankar wrote on X.

Sharing another post, Jaishankar wrote, “Delighted to co-host the India-SICA Foreign Minister’s Meeting along with FM @javierachapma of Panama in New York today.”

“SICA is a key partner in our framework of South-South cooperation. Building on the momentum of the 2023 dialogue in Panama City, we look forward to advancing collaboration in digital transformation, renewable energy, food and health security and climate action,” the post added.

He also engaged with several foreign officials, including Guatemala’s Foreign Minister Carlos Ramiro Martinez, Costa Rica’s Foreign Minister Arnoldo Andre Tinoco, Australia’s Foreign Minister Senator Penny Wong, Egypt’s Foreign Minister Badr Abdelatty, the United Kingdom’s Foreign Secretary Yvette Cooper, and Malaysia’s Foreign Minister Mohamad Haji Hasan.

Earlier, Jaishankar also spoke at the G20 Foreign Ministers’ Meeting hosted by South Africa on the sidelines of the 80th Session of the UN General Assembly (UNGA 80).

He stressed the responsibility of G20 members to strengthen global stability through dialogue, diplomacy, and combating terrorism, alongside enhancing energy and economic security.

“Highlighted that in a politically & economically volatile international situation, G20 members have a particular responsibility to strengthen its stability and give it a more positive direction,” Jaishankar wrote on X.

“Can be best done by: undertaking dialogue and diplomacy, firmly combating terrorism and appreciating the need for stronger energy and economic security,” the post added. (ANI)

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