2014 India-Bangladesh resolution ‘a model for peaceful maritime settlement’: Modi

India's Prime Minister Narendra Modi showcased the 2014 resolution with Bangladesh as a model for peaceful maritime dispute settlement across the world.

"The settlement of maritime disputes should be peaceful and based on international law only. For this, mutual trust and confidence are very essential, and this is the only way we can ensure global peace and stability," Modi said adding that "it is with this understanding and maturity that we solved our maritime boundary issue with our neighbour Bangladesh."

Modi made the remarks while chairing a UN Security Council open debate on "Enhancing Maritime Security — A Case for International Cooperation" this evening via video conferencing.

In July 2014, India settled its territorial water dispute with Bangladesh by accepting a UNCLOS tribunal award on the maritime boundary arbitration.

Modi suggested making an inclusive framework on maritime security "in our region based on the vision of SAGAR (Security And Growth for All in the Region) for a safe, secure, and stable maritime domain."

For maritime security, Modi put forth five fundamental principles: removal of barriers to facilitate free maritime trade, encouragement to responsible maritime connectivity, collectively combat maritime threats posed by non-state actors and natural calamities, and preservation of maritime environment and resources.

"We should remove barriers to maritime trade. Our prosperity depends on the active flow of maritime trade, and barriers in this path can pose a challenge to the entire global economy. Free maritime trade is associated with the culture of India for time immemorial," he said.

Modi said maritime routes are being misused for piracy and terrorism. "Oceans are our shared heritage, maritime routes the lifelines of international trade," he added.