Three Member Countries Designate Areas for SAARC Industrial Parks

21 July 2016

Bangladesh, India, and Pakistan, member countries of the South Asian Association for Regional Cooperation (SAARC), have stepped up their support for the proposed SAARC Industrial Parks by allocating lands for the planned initiative. Bangladesh has designated an area in the port city of Chittagong; India pledged to establish a SAARC garment industrial park in Gujarat; and Pakistan will provide 250 acres of land in Faisalabad City.

SAARC CCI President Suraj Vaidya envisions SAARC Industrial Parks in each member country. With SAARC intra-regional trade accounting for less than 5% of total trade, SAARC Industrial Parks could spark a new era in intra-regional trade and investment among SAARC member nations, attracting investment through reduction in tariff, para-tariff, and non-tariff barriers to trade, and introducing a double-taxation avoidance scheme and other incentives.

SAARC CCI also finalized 20 private sector projects from each member country. It plans to seek investments within and beyond SAARC.

Upcoming SAARC CCI events include:

  • SAARC trade fair, to be held in September in Bhutan;
  • SAARC tourism summit, to be held in October in India;
  • South Asia Investors Forum, to be co-organized by the Federation of Indian Chambers of Commerce and Industry, to be held in October in Delhi; and
  • SAARC Business Leaders Forum, to be held in Islamabad in November. 

 

Related Link:

Establishment of SAARC industrial park gathers momentum

The King and Queen of Bhutan, His Majesty Jigme Khesar Namgyel Wangchuck, and Her Majesty Jetsun Pema Wangchuck,...

Read More


The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) member countries discussed pursuing a visa...

Read More


Tata Power Company Ltd and the Druk Green Power Corporation Ltd (DGPC), a subsidiary of Bhutan's Druk Holding...

Read More


The Ministry of External Affairs (MEA) of India and the Bay of Bengal Initiative for Multi-Sectoral Technical and...

Read More


The inauguration of the Integrated Check Post (ICP) at Darranga, Assam, on the India-Bhutan border on 7 November...

Read More


Mr. Shri Sunil Barthwal, Secretary of the Ministry of Commerce and Industry of the Government of India, and Ms....

Read More


Bhutan Prime Minister Tshering Tobgay and Nepal Prime Minister KP Sharma Oli met on the sidelines of the...

Read More