SUB-REGIONAL BLOCS TO BE FORMED TO DISCUSS COMMON ECONOMIC AGENDAS
- RUDRA PANGENI
Sub-regional blocs to be formed to discuss common economic agendas KATHMANDU, March 8 : Realizing the need to raise sub-regional economic agendas in the South Asian Association for Regional Cooperation (SAARC) member countries in a proactive manner, a regional organization of private sector has come up with a plan to form sub-regional blocs focusing on specialized common agendas.
Given the diversified economic agendas of member countries, SAARC Chamber of Commerce and Industry (SAARC CCI) intends to make different sub-regional on common economic issues as part of achieving broader regional cooperation.
समाचार सार
- SAARC CCI Action Plan for 2015
Making public the action plan for SAARC CCI for 2015, Officiating President of SAARC CCI Suraj Vaidya said the sub-regional blocs will address common agendas at sub-regional level in the beginning and later on set priority for connectivity, infrastructure, investment, trading and others. "As energy and grid connectivity are the common agendas of Nepal, Bangladesh, Bhutan and India, these countries will be under a proposed sub-regional bloc for economic cooperation," Vaidya said, adding that western sub-regional bloc will have Afghanistan, Pakistan and India, who are in need of railway and other connectivity to increase bi-lateral and tri-lateral trade, as members. Similarly, Sri Lanka, Maldives and India, whose common agenda is use of sea route for trading, will be the members of the proposed southern sub-regional bloc.
Though SAARC is already 30 years old, intra regional trading is still very nominal.
Vaidya said that the private sector, for the first time, has introduced the concept of sub-regional blocs for prioritizing economic agendas and addressing closer issues of three to four countries at the beginning.
Experts say the idea of sub-regional blocs can be more pragmatic as SAARC has not become able to give due priority to economic agendas.
SAARC CCI has been credited for playing a major role in getting the SAARC Framework Agreement on Energy from the 18th SAARC Summit held in November last year. A committee led by Vaidya had forged coordination among private sector of the member countries.
Vaidya also said that Nepal has its own agendas like getting hassle-free access to the nearest port, draw more investments in energy and other sectors, as well as promoting tourism.
SAARC CCI's ACTION PLAN FOR 2015
The SAARC CCI is holding its 63rd executive committee and general assembly in New Delhi starting from Tuesday. The meeting will endorse the action plan for 2015.
Setting up of South Asian Investment Caucus that aims to bring across the table the board of investments of SAARC member countries and potential investors to deliberate on investment issues and pursue public private partnership model to encourage and promote free flow of investments is one of the programs included in the action plan.
Though SAARC is already 30 years old, intra regional trading is still very nominal.
Vaidya said that the private sector, for the first time, has introduced the concept of sub-regional blocs for prioritizing economic agendas and addressing closer issues of three to four countries at the beginning.
Experts say the idea of sub-regional blocs can be more pragmatic as SAARC has not become able to give due priority to economic agendas.
SAARC CCI has been credited for playing a major role in getting the SAARC Framework Agreement on Energy from the 18th SAARC Summit held in November last year. A committee led by Vaidya had forged coordination among private sector of the member countries.
Vaidya also said that Nepal has its own agendas like getting hassle-free access to the nearest port, draw more investments in energy and other sectors, as well as promoting tourism.
SAARC CCI's ACTION PLAN FOR 2015
The SAARC CCI is holding its 63rd executive committee and general assembly in New Delhi starting from Tuesday. The meeting will endorse the action plan for 2015.
Setting up of South Asian Investment Caucus that aims to bring across the table the board of investments of SAARC member countries and potential investors to deliberate on investment issues and pursue public private partnership model to encourage and promote free flow of investments is one of the programs included in the action plan.
Vaidya also said that the SAARC CCI has scheduled a number of meetings for the year in different countries focusing on different agendas. The meetings will be organized in a proportionate manner in all member countries, he added.
SAARC CCI also plans to launch CEOs' Forum to engage leading enterprises and industries both in trade and organizational mechanism and provide a forum for deliberations so that they can identify areas of cooperation and initiate mega projects with their counterparts in South Asia.
Similarly, establishing SAARC Shipping Company and SAARC Transport and Logistics Company for swift and easy intra-regional trade is also in the list of plans included in the action plan. Likewise, the chamber also plans to bring investors for hydropower development in Bhutan and Nepal as well as developing required infrastructure for smooth transmission of energy to neighboring countries. It plans to organize different events to discuss on cooperation and investment in hydropower development.
SAARC CCI is planning to hold its meeting in Pakistan on April 29-30 coinciding with the SAARC Ministerial Meeting to be held in Islamabad. The ministerial meeting is discussing on motor vehicle agreement that ensures free movement of vehicles at the regional level.“
"SAARC CCI and national chamber of commerce of all member countries will lobby for the agreement," added Vaidya.
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