India Pursues SAARC-wide Initiatives to Promote Goal of Greater Connectivity and Integration
16 March 2016
India Foreign Secretary S. Jaishankar discussed initiatives being pursued by India in line with its 'neighborhood first' policy to help bring the region closer to its goal of greater connectivity and integration, in his address at the 42nd Standing Committee Meeting of the South Asian Association for Regional Cooperation (SAARC). These include the SAARC Business Travelers' Card, the SAARC Satellite, the SAARC Knowledge Network, the SAARC Annual Disaster Management Exercise, and the SAARC Regional Supra-Reference Laboratory for TB and HIV. He also emphasized the need to implement the South Asian Economic Union, and sign the SAARC Motor Vehicles Agreement and SAARC Railways Agreement.
According to the Foreign Secretary, the SAARC Business Travelers' Card, designed to allow South Asian businessmen easier access to India, is set to launch within the next two months.
The South Asian Economic Union, which includes deepening financial integration among SAARC member countries to encourage free flow of capital in the region, will boost intra-regional trade and facilitate the flow of remittances. Within the region, India conducts capacity-building programs in Customs and taxation, and has opened duty-free market access to goods—with the exception of 25 products—toward SAARC least developed countries.
The Foreign Secretary also discussed projects being undertaken by India to strengthen connectivity in South Asia, including rail and road programs, power generation and transmission, shipping and waterway usage through regional, subregional, trilateral, and bilateral arrangements.
The 42nd SAARC Standing Committee Meeting, attended by foreign secretaries of SAARC member countries, preceded the 37th SAARC Council of Ministers Meeting. It was held on 16 March 2016 in Pokhara, Nepal.
The Asian Development Bank supports the efforts of SAARC to boost regional cooperation and integration through the idea of a South Asian Economic Union. It continues to assist the SAARC Secretariat with analytical work and capacity building activities.
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