The 10-nation ASEAN bloc could tap India‘s vibrant technology and start-up scene to grow and facilitate finance and trade in practical ways, Singapore Prime Minister Lee Hsien Loong has said, underlining that the grouping values New Delhi‘s support amid an evolving regional architecture.

Speaking at the annual India-ASEAN summit on Thursday, Lee said that digital transformation and public health cooperation are priority areas Singapore is committed to pursuing as coordinator for ASEAN-India relations.

He said the ASEAN bloc could tap India’s vibrant technology and start-up scene to grow and facilitate finance and trade in practical ways.

ASEAN also values India’s support for the bloc’s principle of centrality, amid an evolving regional architecture, said the Singapore premier.

The ASEAN countries include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

There is also much scope for collaboration on creating inter-operable digital financial systems that are inclusive and present more opportunities for communities and businesses on both sides, he told leaders from the region and Indian Prime Minister Narendra Modi at the summit.

On health, including COVID-19 vaccine provision and distribution, Lee pointed out that India plays a critical role in the global pharmaceutical supply chain. Singapore, as an aviation and transhipment hub with robust cold chain capabilities, can support India as an effective vaccine transhipment point for South-east Asia and beyond, he added.

In an opening statement delivered in Singapore’s capacity as country coordinator for ASEAN-India dialogue relations, Lee noted that to commemorate 30 years of ties, 2022 would be designated as a “Friendship Year” between the two parties.

“We can do much more together,” The Straits Times newspaper quoted Lee as saying.

On tackling the pandemic, Lee said ASEAN welcomes India’s move to resume exports of safe and effective vaccines, including to the COVID-19 Vaccine Global Access (Covax) Facility.

India stopped exports of the COVID-19 vaccine in April due to the devastating second wave of the pandemic in the country.

It was important to promote synergies between the ASEAN Outlook on the Indo-Pacific and India’s own Indo-Pacific Oceans Initiative, to “enhance mutual trust, respect and benefit,” said Lee.

India and ASEAN on Thursday vowed to work towards an Indo-Pacific that embraces openness, transparency, inclusivity, respect for sovereignty and non-intervention in the backdrop of growing global concern over China’s military muscle-flexing in the region.

At the summit, the leaders of the two sides discussed the situation in the South China Sea and affirmed the importance of maintaining and promoting peace, stability, safety and security in the resource-rich region.

The two sides also vowed to boost maritime cooperation, including maritime security and information sharing through appropriate mechanisms under the ASEAN-India framework and other appropriate ASEAN-led mechanisms.

The ASEAN is considered one of the most influential groupings in the region, and India and several other countries including the US, China, Japan and Australia are its dialogue partners.

The ties between India and ASEAN have been on an upswing in the last few years with the focus being on ramping up cooperation in the areas of trade and investment as well as security and defence.