Trade among SAARC members rises steadily

Delegation leaves for business leaders’ conference in Nepal

LAHORE: A high-level 35-member delegation left for Kathmandu, Nepal on Tuesday to participate in the three-day ‘6th Saarc Business Leaders Conclave’ that would commence on March 16 to explore investment avenues in agriculture, industrial and energy sectors and promote trade among member states of the grouping.

Talking to media prior to departure, delegation’s leader and Saarc Chamber of Commerce and Industry (CCI) Vice President Iftikhar Ali Malik said distinctive features of the conclave would be highlighted during deliberations along with a briefing to participants on the regional issues hindering rapid economic prosperity.

Malik said the event, to be inaugurated by Nepal Prime Minister KP Sharma Oli, would discuss the measures required to make South Asia prosperous, promote trade and investment in the region, resolve economic and political issues and deepen cooperation in the energy sector.

Answering a question about progress of the Saarc CCI towards economic integration, he cited the Saarc Preferential Trade Arrangement (Sapta), the South Asia Free Trade Area (Safta) and, more recently, the Saarc Agreement on Trade in Services as landmark achievements in the pursuit of common objective of a speedy regional integration.

“Statistical evidence suggests that intra-regional trade among Safta members is rising slowly and steadily. South Asia’s intra-regional trading share has also increased substantially,” he said.

Replying to another query, he said private sector of the region was committed to the socio-economic integration of South Asia and “the business community believes in harmony and advocates regional economic integration to address major challenges including job creation and poverty reduction”.

Published in The Express Tribune, March 14^th, 2018.

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