SAARC Finance Ministers conference open in Islamabad

The two-day conference of SAARC Finance Ministers has begun in Islamabad.

On the first day, Finance Secretaries of the member states are discussing current status of economic and financial cooperation in the region.

They are having overall economic outlook of SAARC economies and global impact on SAARC region.

The Finance Secretaries would finalize recommendations for Finance Ministers’ meeting to be held tomorrow.

During two-day deliberations, the members states will review different activities being carried out in the region under SAARC mechanism, including customs cooperation, avoidance of double taxation, promotion and protection of investment, cooperation in banking sector, and trade liberalization.

The conference will also recommend measures to enhance regional cooperation in order to move fast towards South Asian Economic Union.

Secretary Finance Waqar Masood was unanimously elected as Chairman of the eighth SAARC Finance Secretaries meeting.

Chairing the meeting, Dr. Waqar Masood says concerted efforts are need for regional economic integration.

He stressed the need for focusing on areas including reduction or removal of non-tariff barriers, energy cooperation, trade facilitation measures, investment cooperation, reduction of products in the sensitive list and improvement in connectivity among SAARC member states.

He underlined the need for tangible recommendations for solution of problems to pull the people of the region out of poverty.

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