Transit, Free Trade Among Saarc States
Initiatives still at declaration level
Speaker Abdul Hamid tells Delhi meet
Some initiatives of South Asian Association for Regional Cooperation (Saarc) like regional free trade and transit remain at the level of declaration said Bangladesh Jatiya Sangsad Speaker Abdul Hamid at a conference.
He called for a deeper cut in tariff and non-tariff barriers to boost trade among South Asian countries.
Addressing the 5th Saarc Speakers Conference here on Saturday, Hamid called for implementation of the regional initiatives taken to combat climate change and its impact on the region.
Hamid said some of the initiatives taken by Saarc countries in the 2005 Summit in Dhaka hold the prospect of a more meaningful regional cooperation.
These are South Asian Free Trade Area (SAFTA), Saarc Convention on Terrorism and cooperation on the issues of trade and transit and energy, he pointed out, acknowledging that some of the initiatives are still at the level of intention.
He said at present the combined international trade of Saarc stands at about US $ 350 billion while intra-regional trade within Saarc is around US $ 7 billion, which accounts for five percent of its global trade.
SAFTA could be a powerful tool through which positive changes can be brought to the region, he added.
“It would however require deeper cuts in tariff rates, removal of tariff and non-tariff barriers, and wider product coverage through reduction in sensitive list (of goods).
“Simplification of customs rules and banking procedures, mutual recognition arrangements and promoting cross-border investment are also needed,” Hamid said.
He said climate change was one of the foremost issues to achieve sustainable development in Saarc countries. The Ministerial Meeting on Climate Change and preceding Expert Group Meeting in Dhaka came out with a Saarc Action Plan for Climate Change and the Dhaka Declaration outlined a number of areas and activities.
The member-countries can implement these activities nationally and regionally to combat the adverse impact of climate change, he said.
Hamid is leading an eight-member delegation at the three-day speakers' conference which was inaugurated by the Indian prime minister on Saturday.
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