A two-day meeting of the Committee on Economic Cooperation of the South Asian Association for Regional Cooperation (SAARC-CEC) began here Saturday seeking ways to boost trade in the region.
Commerce Secretary of Bangladesh Feroz Ahmed was elected as the chairperson of the SAARC-CEC, private news agency UNB reported.
This is the 13th meeting of the committee. The last meeting of the committee was held in Islamabad in 2004.
At the opening session of the meeting here, SAARC Secretary General Lyonpo Chenkyab Dorji said the 13th and 14th SAARC meeting laid greater importance on improving intra-regional connectivity to facilitate intra-regional trade.
"Transportation and transport connectivity are important, conceptually as also functionally. In this context, an intra-SAARC network of rail, road, aviation and waterways could significantly cut down the existing high levels of transaction costs involved in intra-regional trade," he said.
The meeting will discuss current status of trade cooperation and integration in SAARC, current status of study on potential of trade in services under South Asia Free Trade Agreement (SAFTA) with effect from Jan. 1, 2006.
It will also discuss issues about the draft agreement on promotion and protection investments, establishment of SAARC arbitration council, visa facilitation and other issues.
Officials concerned from all SAARC member countries are attending the meeting.
Source: Xinhua
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