Conference on Saarc Begins
Agreement to deal with disasters signed
An international conference on Saarc began here yesterday with a call for regional economic integration and signing an agreement on a rapid response mechanism to deal with natural disasters in member-countries.
The conference was organised to mark 25 years of establishment of Saarc with the first Summit in Dhaka in 1985.
Addressing the function, Indian External Affairs Minister SM Krishna said South Asia, taking a cue from East and South East Asia, must take adequate cognizance of economies of the neighbourhood “just as different regions across the world have adopted the strategy of regional economic integration.”
He pointed out that with implementation of South Asia Free Trade Agreement (Safta) in 2006 Intra-regional trade in South Asia has doubled over the past 5 years and this figure touched close to $550 million in 2009, increasing from just $ 10 million in 2006 when Safta came into force.
“What is also significant is that intra-Saarc exports, as a proportion of total Saarc exports have more than doubled in these last 25 years,” Krishna said adding, “This reflects the growing importance of the region for the overall trade of its member-states.”
“However, there is considerably greater potential to increase the share of intra-regional trade and investment flows as has been witnessed in East and South East Asia. It is time that the South Asian region takes adequate cognisance of the economies of the neighbourhood just as different regions across the world have adopted the strategy of regional economic integration to exploit the synergies for mutual benefit in a balanced and equitable manner,” he said.
Stressing the need for adaptation and capacity building for Saarc member-countries, Krishna said that while in a region afflicted by continuing natural disasters, the creation of the Saarc Disaster Management Centre (SDMC) in New Delhi in 2006 was a step in the right direction, the agreement to develop a Natural Disaster Rapid Response Mechanism under the auspices of the SDMC has not yet been finalised.
“This is unfortunate as it is hampering the ability of the Centre to respond to urgent needs of members including during disasters,” he said.
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