ISLAMABAD:SAARC Chamber of Commerce and Industry (CCI) has convened one-day conference on “Role of Chambers in Strengthening Regional Economic Integration” .
The event would be held in Kathmandu, Nepal on March 16 in which business delegates and ministers from Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka will participate, said SAARC CCI Senior Vice President (SVP) Iftikhar Ali Malik while talking to a businessmen delegation led by Sohail Hussain Malik, Chairman Co-ordination Committee FPCCI,” says a press release issued here on Saturday.
He said social political dialogues among the member states are indispensable to unleash the socio-economic potential of South Asia.
He further said that the government and private sector must come forward joining hands together for working integration of the region and if all tangible steps were taken, only furniture market in the region would reach to colossal figure of $5.4 billion by 2020.
“Remedial measures may push the regional trade to as high as $170 billion within two years,” he added.
He said increased regional economic connectivity within South Asia, as well as with other parts of Asia, could bolster economic growth, reduce poverty and enhance regional stability and security.
He said the rising disposable incomes, improving consumer lifestyles and a significant increase in the GDPs largely supplement the growth of the market in the South Asian region.
Further, the growth is also supplemented by the ongoing developments in the real estate sector in the region, which largely boost the adoption of luxury furniture by both domestic as well as commercial users.
Iftikhar Malik said since its inception, SAARC chamber has facilitated regional cooperation in various areas for the well fare of the people of South Asia.
He said SAARC should be more active to address major challenges, the region faces; job creation for the youth of South Asia- our region’s biggest asset and poverty.
He said South Asia comprises 3 percent of the world’s area, 21 percent of the world’s population and 3.38 percent (US$ 2.9 trillion) of the global economy.
The respective governments are trying to give its people a much higher quality of life racked by high illiteracy, dismissal health care and sanitation.
He said the SAARC chamber leadership committed to carry out its six points agenda for an integrated, progressive and prosperous South Asia.
The areas of focus include attracting intra-regional investment, industrialization of South Asia via embodying SAARC Investment Parks, nourishing and nurturing the small and medium enterprises and to mentor upcoming entrepreneurs across the region.
Meanwhile SAARCE Chamber executive committee meeting will be held on March 15 at same venue.