Pakistan PM for enhanced economic ties among SAARC states

Islamabad, July 11 (UNI) Pakistan Prime Minister Shaukat Aziz today urged the SAARC countries to enhance cooperation in bilateral, economic, trade and commercial fields.

He was addressing the first meeting of Finance Ministers of South Asian Association for Regional Corporation (SAARC) here.

Finance Ministers and financial experts from the seven SAARC countries--India, Bangladesh, Sri Lanka, Nepal, Bhutan, Maldives and Pakistan-- are attending the meeting to formulate recommendations for establishing SAARC Development Fund for the region.

The fund, with its own permanent secretariat will comprise three distinct windows, social infrastructure and economic sectors. The three windows would offer concession and non-concession funds as well as grants to the SAARC countries and 300 million dollars would be utilised for poverty alleviation.

Mr Aziz urged the SAARC members to promote intra-regional trade but said ''the Kashmir issue'' has to be resolved to exploit full potential of the region.

It is essential countries address the ''root causes'' of all issues confronting the region, he added.

He said ''we should pool our experiences and best practices and enrich our cooperation by resolving our disputes, focus our resources on development and create synergies for progress in South Asia.'' Mr Aziz said through cooperation, the member states can transform SAARC into an engine of economic growth and improve the quality of life of the people.

He said SAARC needed to join the mainstream of globalisation and build an interface with the international community. ''We should build dialogue partnership with other regional organisations and important extra-regional states,'' he added.

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