Saarc chamber talks ways to expedite Safta implementation
Star Business Report
Saarc chamber yesterday discussed ways to expedite the Safta (South Asian Free Trade Area) implementation process to bolster regional trade and investment.Leaders of the chamber also discussed means to make the Saarc Chamber of Commerce and Industry (SCCI) as the focal point in enhancing the region's trade at the 39th executive committee meeting on board a ship in the Meghna. "We have discussed ways to make Safta operational," Dsho Ugen Tsechup Dorji, president of SCCI, told a post-meeting briefing. He said the businesspeople have realised the potential of South Asian Association for Regional Cooperation (Saarc). "All the businesspeople in the meeting agree that there is a huge potential in regional trade in the Saarc bloc," Dorji said. He said the meeting favoured strengthening the capacity of the Saarc cells in apex chambers in the member countries. He said if the capacity of the Saarc chamber is strengthened, the chamber will seek cooperation from international chambers such as International Chamber of Commerce, Commonwealth Chamber of Commerce and European Chamber of Commerce. Mir Nasir Hossain, president of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and vice-president SCCI, said the region's main problem in trade is non-tariff and para-tariff barriers. The South Asian countries should address the trade barriers, enhance cooperation in customs points and harmonise products standards to increase trade. He also said the Saarc chamber will work to ease the problems that stand in the way of trade. Afghanistan Chamber of Commerce and Industry representatives formally joined the Saarc chamber executive body meeting.
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