NEW DELHI: Federal Minister for Commerce Khurram Dastgir Khan emphasizing on pragmatic approach for regional cooperation on trade has said that huge potential exists in intra-regional trade once non-tariff barriers are removed.
“There is a huge potential in intra-regional trade and regional economic cooperation. It can thrive once tariff and non-tariff barriers are removed. This must be done in a manner so that the peoples of this region become the principal beneficiaries of such cooperation,” Dastgir stated while addressing SAARC Business Leaders’ Conclave in New Delhi on Friday.
He said that SAARC Business Leaders’ Conclave is an important assembly of government and business leaders from South Asia that provides a unique opportunity to set the course of realizing the vision of a South Asian Century. He stated that working the vision of a South Asian Century requires a new mindset, a new attitude and to overcome syndrome of the zero sum game.
While speaking on regional cooperation in trade he said that it requires pragmatic approach through facilitative regime in terms of national regulations and procedures, which enables the peoples of South Asian region to synergize their respective national complementarities. The minister underlined that intra-regional banking mechanisms are extremely important to take forward the concept of regional cooperation. He emphatically underscored the economic development through regional cooperation as a priority of Pakistan.
The minister pointed out that the SAARC region can do a lot together for collective advantage. He appreciated the concept of SAARC Energy Ring and underscored the need to give shape to trans-regional energy projects such as TAPI and IP. He said that South Asia needs to develop its own resources and learn from each other’s experience in the development of energy potential of the region.
Earlier, Indian business leaders called on the minister on the sidelines of SAARC Business Leaders’ Conclave.
On the sidelines of SAARC Business Leaders’ Conclave, Dastgir also met with Mohammad Saeed, Economic Minister of Maldives and representative of national and regional Chambers of Commerce.
