FBCCI, SAARC to strengthen activity to tap SAFTA advantage

Dhaka, May 25 (UNI) Businesses seek specific timeframe to remove bottlenecks that hinder trade and investment in the South Asian Association for Regional Cooperation (SAARC) region, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president Mir Nasir Hossain said here today.

''Business forum reaches consensus very rapidly to solve the problems, but political leadership cannot reach consensus,'' he told reporters on the sideline of the 39th Executive Committee Meeting of SAARC Chamber of Commerce and Industry (SCCI).

The FBCCI chief added that whatever developments take place in the business and political forums, are not implemented at the operation level.

The agreement on South Asian Free Trade Area (SAFTA) became effective on July 1,2006, but the countries could hardly utilise the trade facilities under the agreement in about one year period.

The FBCCI president pointed out the barriers to non-implementation of the facilities including non-tariff barriers (NTBs), para-tariff barriers (PTBs), negative list of products, standards and specifications of products.

The problems will be discussed in details at the business session on 'Trade Liberalisation under SAFTA' here tomorrow.

Mr Hossain said the EC meeting focused on strengthening the SAARC region's trade body so that it can play a strong role in facilitating trade and investment within the region through removing the barriers, and contribute to reduce the region's poverty.

SCCI president Dasho Ugen Tsechup Dorji chaired the meeting onboard 'Ostrich', a ship of Bangladesh Inland Water Transport Authority (BIWTA), in the river Meghna.

Vice-Presidents and Executive Committee members from seven SCCI-member apex trade bodies attended the routine meeting organised by the FBCCI.

The meeting inducted Afghan Chamber of Commerce and Industry (ACCI) as its eighth member. However, Maldives Chamber did not attend the meeting.

''We've discussed how the SCCI can become a focal point of the businesses in the region to facilitate trade. If we can strengthen it, we'll be able to facilitate trade in the region,'' SCCI president Dorji told reporters after the meeting.

He said the meeting also discussed how the regional trade body could enhance people-to-people contact and help SAFTA move forward.

''We feel, we can achieve much more through this forum,'' said Mr Dorji, who is also the president of Bhutan Chamber of Commerce and Industry.

To strengthen the SCCI activities, the meeting decided to have a permanent secretariat in Islamabad, Pakistan and the chamber has already procured land to construct the secretariat building, he said.

He added that the next SAARC business leaders' conclave would be held in Pakistan next year.

UNI