CEOs146; forum proposes steps towards SAFTA

As progress towards the launch of a free trade zone under SAFTA seems to have got stuck with member countries sparring over negative lists, a high-power chief executive officers8217; CEOs8217; forum from the South Asian Association for Regional Cooperation Saarc has called for a common minimum programme as a first step for such an agreement. The forum, which comprises over two dozen CEOs, has also sugggested ways to facilitate trade in the South Asian region, using means outside the purview of SAFTA like special economic zones SEZs and energy partnerships.

The CEOs, who met at a round-table conference organised by the Confederation of Indian Industry CII that coincided with the 14th Saarc summit, suggested that trade in services should be included in SAFTA as there is already a lot of cooperation between member countries in areas like health services. India, for instance, has set up hospitals in Bangladesh and Nepal.

They also called for the setting up of a Saarc hospital in each of the member countries, taking into account the fact that the diseases prevailing in the sub-continent are similar and that greater cooperation would help combat these and aid in research and development R038;D. The forum stressed the need to encourage intra-regional investment and explore the possibilities of a special economic zone specifically for exports within the region. They also suggested the setting up of regional energy grids to ensure energy security among Saarc countries.

8220;CEOs from Nepal and Bhutan sought private participation for greater power trading and for optimal utilisation of the petroleum and natural gas reserves in their respective countries. The stress is on greater private sector activity without relying on the government to take steps,8221; said CII international trade policy head T S Vishwanath.