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Journalism of Courage
India has called for a multilateral tax treaty for SAARC countries and forward-looking investment policies.
Addressing the first meeting of the SAARC inter-governmental expert group on investment, arbitration and avoidance of double taxation here, Foreign Secretary Shashank said such a tax accord would offer investors comprehensive protection. A mechanism for settlement of investment disputes at the regional level would also attract foreign investment in the SAARC region, he added.
Experts from SAARC countries discussed trade facilitation measures which would supplement the South Asian Free Trade Area agreement signed during the January SAARC summit in Islamabad.
Shashank said the hectic pace of globalisation, the stakes involved in multilateral trade negotiations and the rush of bilateral and regional trading agreements being entered into worldwide made it imperative for SAARC nations to step up their economic integration.
8216;8216;We have the potential, talent and resources to make South Asia an economic powerhouse of the world. We must therefore seize the moment or else be content with being marginal players on the world stage,8217;8217; he said.
