SAARC Chamber team to participate in BLC

F.P. Report

ISLAMABAD: A high level delegation of SAARC Chamber Pakistan chapter will participate in the forthcoming 3-days “6th SAARC Business Leaders Conclave” commencing from March 16 at Kathmandu, Nepal to promote trade among member countries and explore investment avenues.

Vice President SAARC Chamber Iftikhar Ali Malik in a statement issued here Sunday said that this mega event will bring together the region’s economic and business thinkers, doers and change makers on a one common platform to discuss, debate and evolve solutions and generate opportunities to take South Asia on the path of shared prosperity through economic integration.

He said that event will also feature interactive discussion and deliberations between torchbearers and influential leaders of South Asian economy.

He further said that they would bring the issue of reduction of their respective sensitive lists under discussion so that volume of trade would be increased manifold times under SAFTA in South Asian region. He said Pakistan under the dynamic leadership of Prime Minister Shahid Khaqan Abbasi would continue its work for boosting trade in the region and would remove all hurdles in the way of free trade.

He further said that Pakistan is keen to increase trade activities with other countries. He added that SAARC countries would have to work jointly for the elimination of poverty, peace and prosperity, for which trade among SAARC countries is essential.

Malik disclosed that nearly 55 percent of the total potential for intra-regional trade in South Asia has not been exploited. “South Asia desperately needs to negotiate at collective multilateral trading forums, using the regional forum of Saarc to advance its economic and social growth and enhance human development.”

He said at a modest 6 percent of total trade, intra-regional trade in South Asia stands at less than one third of its full potential. Trade barriers, inadequate infrastructure and a lack of political commitment to finding common solutions to support cross-border commercial activity have cost South Asia over US $54 billion per year in lost export opportunities.

He added that despite huge indigenous and plenty of natural resources and mineral deposits, the state of intra-region trade in South Asia is highly miserable. “Two major players of South Asia possess great economic potential and enhanced trade relations could bring them closer together provided all core issues confronting the states were settled amicably through peaceful and result oriented parleys.”

Iftikhar Ali Malik said that theme of the conclave is “Unleashing Shared Prosperity through Economic Integrity”. He said that conclave is truly the only podium that articulates and speaks of voices of private sector to the public sector in the region. Over, 500 leading business leaders, eminent international experts and distinguished dignitaries from private and public sectors will grace the occasion to be chaired by SAARC Chamber President Suraj Vaidya. He said even will also include “SAARC Bazar”, “Threads of Hope-Fashion Show” and “Music Beyond Borders”.