India will host the India-European Union Summit later this year, External Affairs Minister K Natwar Singh said in New Delhi on Friday.

"We expect to host the India-EU summit under the UK presidency in New Delhi and welcome the British Prime Minister to our country later this year," he said at a joint press interaction with his British counterpart Jack Straw.

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Singh voiced the hope of working closely with Britain during its presidency of the G-8 industrialised nations.

He said India and the UK believe in a strong multilateral system and are committed to the effective functioning of the UN. "We deeply appreciate the UK for extending its support to India's candidature for the permanent membership of an expanded UN Security Council," Singh said.