New Delhi: Observing that there was a yearning for peace the world over, President A P J Abdul Kalam tonight (Jan 8, 2004) said Prime Minister Atal Bihari Vajpayee has again offered the hand of friendship to Pakistan and "the peace process is now in an ascending phase".

"In our attempt at ushering in an era of regional peace, our Prime Minister has again offered the hand of friendship to our neighbour Pakistan and the peace process is now in an ascending phase," he said in his speech at a banquet in honour of President of Guyana Bharrat Jagdeo.

Kalam said the limitations of unilateralism are all too evident. "There is a yearning for peace and prosperity in the world. Our concepts, our institutions and the manner in which nations relate to each other must change to meet this tide of rising expectations, or we risk being swept away by it," he said.

The President said India is extremely appreciative of Guyana's public affirmation of its support to New Delhi for permanent membership in an expanded UN Security Council.

Both the countries, he said, recognised the need for equitable balance in the expanded Security Council to provide a constructive voice to the aspirations of the developing countries.

The President said India always felt a special bond of friendship and solidarity with Guyana and its people. Many Indians migrated to Guyana and "the descendants of those Indians are a vibrant part of the multi-racial Guyanese society and form an important pillar of our relationship", he said.

He said India would especially like to be a partner in the development of the sugar industry in Guyana. "India has developed core competence in the complete process of the sugar industry right from the cultivation of sugarcane to the extraction of sugar and its various by-products," he said.