Trade in services under Safta to double intra-regional trade in SAsia

KARACHI - Inclusion of services under SAFTA will help foster the economic integration process in South Asia
and may double the current level of intra-regional trade in SAARC if implemented in true spirit.
SAARC CCI Vice President Iftikhar Ali Malik said this while addressing a “Roundtable on SAFTA: Prospects
and Opportunities for Trade in Services, according to a message received here on Friday.
The roundtable was organised by SAARC Chamber of Commerce & Industry in collaboration with Bhutan
Chamber of Commerce & Industry supported by Friedrich Naumann Stiftung at Thimphu-Bhutan.
Malik said that services are key inputs to all or most of other key businesses in South Asia such as infrastructure
services, energy, telecommunications and transportation, Tourism and financial services.
South Asian investment climate and can have a much wider impact on overall business performance and the
level of investment, and hence propel more growth and productivity in the regional economy. He was of the
opinion that cooperation in Services Sector was equally beneficial to smaller economies. He urged upon the
respective Government of the SAARC to endorse Agreement on investment promotion and protection and ratify
trade in Services under SAFTA. The roundtable was inaugurated by Bhutan Economic Minister Lyonpo Khandu
Wangchuk, who urged upon the Private Sector of the South Asia to get enormous benefits under SAFTA through
enhanced economic cooperation.
He was of the opinion that the current changes in the global economic system assume the greater role of Private
Sector and its inclusion in policy formulation process by the respective Governments.