The SAARC region intra regional trade is one of the lowest in the world and urgent steps should be taken to increase it, said Friedrich Naumann Foundation Regional Director Ronald Meinardus.
Speaking at the SAARC Investment Forum on Wednesday, he said that this is a very sad scenario since the region has a huge population and is rich with natural resources.
The politics in the region too is having a negative impact for low integrated trade.
He said that the Federation Chamber of Commerce and Industry (FCCISL) has been an important partner and they have launched a series of events with them.
SAARC Chamber of Commerce Secretary General Suraj Vaidya said that over 17% of global GDP flowed through the region in early 2000 but today it is not so. “We must all work together to revive this past glory.”
“The movement is not dying and it plays a major role towards the development for the region.”
He also said that they expect women entrepreneurs in the region to play an even bigger role in the future.
He also said that though there is tension between some regional countries it should not be an issue to increase trade.
“If you take China and Taiwan, there were only seven flights per week in 2002. But today it has increased to around 90 per week, which clearly shows that trade and tourism can go ahead even in hostile nations.”
FCCISL clinched the much coveted and prestigious presidency at SAARC Chamber of Commerce and Industry – the apex body of SAARC chambers, in Islamabad, Pakistan, for 2018 and appointed Ruwan Edirisinghe as the senior vice president (SVP), recently. He is to assume the Presidency of SAARC CCI in 2018.
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