SAARC to endorse proposals to improve intra-regional trade
Staff Reporter
Islamabad—We consider Private Sector as engine of growth and endorse the proposals of the leadership of SAARC Chamber of Commerce and Industry” and we are recommending to leadership of South Asia to adopt them in the forthcoming SAARC Summit at Bhutan” this was stated by Dr. Sheel Kant Sharma, Secretary General SAARC at inaugural session of Roundtable on SAFTA: a precursor to 16th SAARC Summit organized by SAARC Chamber of Commerce & Industry and Federation of Nepalese Chamber of Commerce & Industry (FNCCI) in collaboration with Friedrich Nauman Stiftung, regional office, New Delhi.
H.E. Secretary General said that core proposals on various issues will be placed before the Heads of States and expressed hopes that decisions taken at 16th SAARC Summit will help improve present level on intra-regional trade that was only $ 670 million under SAARC rules of origin. He said that he endorses each and every word said by Mr. Tariq Sayeed, Immediate Past President SAARC CCI and also endorsed view point of Mr. Kush Kumar Joshi, President FNCCI and Mr. Vikramjit Singh Sahney, Snr. Vice President of SAARC CCI from India.
Mr. Annisul Huq, President of SAARC CCI in his keynote speech said that South Asian region with 23% population and enormous potential could win the World but it was unfortunate nations could not win each other. He said if Governments of South Asian Nations had the desire to achieve the objectives of SAFTA, they will have to adopt a workable mechanism and have to make binding commitments to reduce their negative lists, must eliminate or at lest substantively reduce Non-tariff Barriers and shorten the period of implementation of the tariff liberalization. He regarded sluggish movement in terms of implementation of decisions taken by Heads of States as one of the slow movement of SAFTA.
Mr. Tariq Sayeed in his address demanded for greater political will to achieve the targets envisaged under SAFTA. He demanded of the Heads of States of South Asia to remove barriers, which were in fact impeding the growth of regional trade and added that South Asian Nations could trade amongst them only of worth $ 11 billion in 2008 against the revealed potential of $ 42 billion and hence the countries failed to tap 72% potential available in regional trade. He emphasized for signing of Regional Investment Treaty and reiterated for increasing SAARC Visa Stickers from 100 to 300 for each member nation and issuance of 500 multiple Business Visa for all member nations.
Mr. Sunil Joshi, President FNCCI while offering welcome address necessitated for undertaken appropriate and speedy measures to reap maximum benefits from SAFTA.
