Experts Gather To Hammer Economic Roadmap Ahead Of SAARC Summit
He said the South Asia Economic Summit would deliberate on various critical areas of concern and of opportunity for regional cooperation, including a roadmap for creating a South Asian economic union, establishing transport corridors, regional value chains and trade and investment.
Sri Lankan International Monetary Cooperation Minister Sarath Amunugama said the security situation in Asia was changing, especially with regard to the seas, and the biggest navies of the world from the U.S., China and India have focused their interest in the Indian Ocean.
With 65 percent of the global sea traffic passing by its Hambantota port, Sri Lanka would like to take advantage of the situation, Amunugama said.
He also said SAARC means that "we have to look at Indian markets. Why cannot we have more advantageous markets".
Gowher Rizvi, adviser for international affairs to the Bangladesh prime minister, said the vast resources of India's northeast can only be developed when the goods pass through Bangladesh, stressing on the need for connectivity.
Rizvi said that to tackle water scarcity, the countries of the region must band together.
"Either we choose to remain mired in poverty or step into a prosperous South Asia," he said.
Nepal's Finance Minister Ram Sharam Mahat said his country's imports were ballooning and competition has become tough.
"Smaller economies must be brought into the picture through production sharing," he said.
The 18th SAARC Summit will be held in Kathmandu with focus on Deeper Integration for Peace and Prosperity.
The event was organised by RIS with support of think tanks from neighbouring countries, the CII, World Bank and UNESCAP.
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