March 20: Ministers and business leaders of the SAARC region highlighted the need of fostering partnership among the countries of the South Asian region to achieve the desired economic development and prosperity.
They also highlighted the fact that the region will be among one of the most economically prosperous regions if the governments work together on different infrastructure projects.
Speaking at the inauguration of the 6th SAARC Business Leaders’ Conclave, Prime Minister KP Sharma Oli said that the government was ready to move ahead by forging partnership with South Asian countries with the end of the long-running political transition.
The conclave was organized by the SAARC Chamber of Commerce and Industry (SAARC-CCI) in collaboration with different organizations from March 16 to 18 in Kathmandu. “With the end of the long-running political transition, the partnership should be aimed at tapping into the resources available in the country for economic development of the region,” he said, urging foreign investors to make investments in Nepal as the country is marching towards economic development.
Likewise, Bhawani Rana, president of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI), said that all the member states of SAARC should work for the wellbeing of the people through trade and investment promotion. “The focus should be on connectivity in the region through railway, roadway and airline operation. Connectivity will make possible impact on economy and the people of the region,” he added.
The three-day conclave saw the participation of more than 300 representatives from SAARC member countries. Different sessions of panel discussion on trade, opportunities, and cooperation among the SAARC region were held during the conclave.
“This is the region of opportunities as the combined economy of the region is the fifth largest in the world in terms of gross domestic product (GDP). The combined GDP of the South Asian region was $2.6 trillion in 2016, and is projected to grow to $6.5 trillion by 2030,” Suraj Vaidya, president of SAARC-CCI said.
He further added that the region is marching towards development and prosperity, and for that the governments of the region should work to increase connectivity, which will increase trade among the countries.
