SINGAPORE, June 3 (Xinhua) -- Developing friendly cooperation with China is one of the priorities of India's foreign policy, Indian Defense Minister Pranab Mukherjee said here Saturday at the fifth Asia Security Summit.

    "Our ties with China have reached a certain degree of maturity where we are determined to build upon our existing commonalities and identify newer areas of mutually beneficial cooperation," he said, adding that the two neighbors are striving to address their differences in a proactive and purposive manner.

    Giving an address at the meeting, which is also known as the Shangri-la Dialogue, Mukherjee noted that India plays a crucial role in maintaining long-term peace, stable balance of power, economic growth and security in Asia.

    "The emergence of India as a global player will have a far reaching impact on the international economy, politics and security. In each of these areas, India is poised to play an increasingly larger role and the existing global institutions in their reform process would need to accommodate India's capabilities and political-intellectual contributions," the minister said.

    He also reiterated India's support for strengthening regional cooperation to enhance maritime security, saying that his country would be willing to assist a Malacca Straits patrolling project "in whatever capacity is deemed suitable."

    Organized by the London-based International Institute for Strategic Studies (IISS), the three-day dialogue, which opened on Friday night, gathered some 250 delegates from more than 20 countries and regions in Asia-Pacific, North America and Europe to address major regional security issues.

    The annual dialogue has been held at Singapore's Shangri-la hotel since its inauguration in 2002. Enditem