Experts Gather To Hammer Economic Roadmap Ahead Of SAARC Summit

NEW DELHI: Ahead of the 18th SAARC summit to be held in Nepal later this month, representatives of the eight participating nations, including ministers and strategic experts, gathered to outline an economic roadmap for greater integration of the South Asia region.

The Nov 5-7 South Asia Economic Summit (SAES) opened here with members urging for pushing trade and economic integration of the region.

Vice President Hamid Ansari, addressing the event, said with most regions of the world moving towards greater economic integration, the creation of a South Asian Economic Union (SAEU) was needed to boost regional cooperation.

"Creation of SAEU would prove to be a milestone in regional cooperation efforts," Ansari said at the 7th South Asia Economic Summit.

He said South Asian Association for Regional Cooperation countries must consider the mutual benefits that could be derived from greater economic integration and contribute to the furtherance of their common developmental agenda.

"They should, therefore, collectively address the challenges that confront them in the process of regional integration," he said.

"While SAEU would require greater regional economic policy coordination, priority should also be laid on to undertake investment in regional infrastructure, especially transport connectivity that would facilitate ease of travel and trade and support the realisation of SAEU, he added.

Shyam Saran, chairperson of think tank Research and Information System for Developing Countries (RIS), said the recommendations emerging from the meetings would be placed before the leaders at the SAARC summit.

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