He was addressing the media at the Indian Ocean Rim Association for Regional Co-operation (IOR-ARC) after returning to the City from the South Asian Association for Regional Co-operation (SAARC) summit at Maldives.

“The nature of trade on sea route is such that we have to work out a strategy (to combat piracy). We have to strengthen our sea-lane security system,” said Krishna.
The Union Minister found improper economical development in countries on the shores of Indian Ocean as a reason behind the growth of the menace.

He said United States of America and China, which too have business interests in the region, should work together with other nations to root out this problem from the Indian Ocean region.

‘We are victims of terror’
Replying to a query, Krishna said no nation in the world today is free from terrorism and it affects bilateral ties between nations and trade affairs.

“Terrorism is an issue which disrupts economic and political equilibrium of the nation. It is necessary to counter it. In SAARC, we deliberated on terrorism since we are the victims of terror. We want this problem to be contained,” he added. With regard to the national-level summit being held in the City, Krishna said such events, usually, take place in the national capitals.

It was supposed to happen in Delhi but later decided to have it in the City (after consulting Prime Minister Manmohan Singh) to give introduction to the cities in the country to the member nations.

Networking
On requirement behind formation of the association, Krishna said the dynamics of the situation was to provide apolitical networking to the relationship with other nations to inject some cultural and socio-economic distinctiveness of each nation among the member-nations.

The Union Minister said the other issues which the officials and the ministers of the member-nations deliberated upon were fishery, tourism, business and trade, culture and academic relationship.