Leaders For Talks To Clear Way For Higher Trade

Leaders of seven South Asian nations yesterday called for more political dialogue among members to end the mistrust that has restrained economic growth..

Maldivian President Maumoon Abdul Gayoom said We (should) institute a separate but parallel process of political dialogue for the purpose of further consolidating understanding and harmony among our countries.

Such talks would make more effective the role of Saarc as a confidence-building mechanism, he told the opening session of the summit.

Saarc comprises India, Pakistan, Bangladesh, Sri Lanka, Bhutan, Nepal and Maldives.

The associations charter prohibits the discussion of contentious bilateral issues that could hamper regional co-operation at its official forums but the summits provide for retreats that allow informal talks.

 

The ninth summit will focus on ways to speed up growth in member states of the 12-year-old bloc, which represents 1.2 billion people or one fifth of the worlds population.

Gayooms call for more political dialogue was echoed by Sri Lankan President Chandrika Kumaratunga, who urged more frequent, informal and confidential talks among SAARC leaders during their summits.

Our tangible achievement to date has been relatively insubstantial, she said. What has held us back was a lack of sufficient political will.

SAARC leaders acknowledged that progress towards economic integration had been slow and agreed to launch a review to revitalise the regional grouping.

They also urged an end to non-tariff barriers that have held back efforts to increase cross-border commerce.

Trade among member states still accounts for only three percent of their total world trade. The regions annual per capita income of $309 is the lowest in the world, and lags behind sub-Saharan Africas $555, according to Islamabad-based Human Development Centre.