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Terror will scare off investors: PM

Manmohan Singh warns that investors will fight shy of entering SAARC nations if there is no peace and security.

india Updated: Nov 17, 2005 19:30 IST
Press Trust of India
Press Trust of India

Prime Minister Manmohan Singh on Thursday warned that investors will fight shy of entering the SAARC countries if there is no assurance of peace and security and called for unitedly fighting terrorism that is haunting the region.

"We have a collective stake in ensuring peace and security in the SAARC region because no investor will come to this region if there is no assurance of peace and security," the Prime Minister said while inaugurating first SAARC Business Leaders Conclave here.

"To imagine that anyone of us can pursue what economists call 'begger-thy-neighbour' policies and thereby prosper is to delude oneself," Singh said, adding the SAARC business community has vital stake in regional security and in victory in the war against terror.

"We must join hands to put our collective house in order as peace in region will benefit all. Terrorism anywhere will hurt us all," he said.

Stating that business and trade flourish in an environment of security, Singh said it was therefore imperative to unitedly fight spectre of terrorism that haunts SAARC region.

"Terrorism, by whatever name, has no place in the civilised societies and its basic goal is to cause insecurity," he said.

The Prime Minister said in an interconnected region and a globalised world, consequences of both poverty and insecurity are indivisible.

"No country in this region can be secure when others are insecure," he said, adding no country can insulate itself from consequences of poverty disease and terrorism in any other country.

First Published: Nov 17, 2005 17:08 IST