Forwarded by
Ziaur Rahman
IITM -iitmbd.org
Dhaka
SAARC nations move on multi-transport road - (SOUTH ASIA)
http://www.financia lexpress. com/news/ Saarc-nations- move-on-multi-
transport- road/216980/
ASHOK B SHARMA
Posted online: Friday , September 14, 2007 at 2359 hrs IST
New Delhi, Sep 14 South Asian countries have inched forward in
developing a multi-modal transport system for the region by
identifying some select pilot projects.
India had introduced a concept paper on South Asian Postal Union
which was favourably discussed at the first meeting of the SAARC
transport ministers in New Delhi on August 31, this year.
With several multi-modal transport projects on the anvil, Sri Lanka
has proposed setting up of a panel for monitoring of projects and
development of institutional capacity building. It was also decided
to include Afghanistan in the multi-model transport system for the
region.
The region's multi-modal transport projects would attract financial
technical assistance from the Asian Development Bank. Establishment
of modern border crossing facility, including immigration, parking
and cargo handling in Phuntsholing in Bhutan, is one of the
identified pilot project.
The development of this facility would help to increase the Himalyan
kingdom's border trade which has suffered due to traffic congestion.
India would initiate pilot projects to develop connectivity with its
eastern neighbours.
It is proposed to connect Birgunj-Kaatihar- Singhabad- Rohanpur-
Chittagong in Bangladesh with links to Jogbani and Biratnagar in
Nepal and Agartala in Tripura. Other proposed links are to connect
Kathmandu-Birgunj- Kolkata/Haldia and Agartala-Akhaura- Chittagong.
Frequent air connectivity is also proposed between Male in Maldives
and New Delhi and between Islamabad andNew Delhi.
Sri Lanka would initiate pilot projects like rail corridor no 5
between Colombo and Chennai in India and ferry services between
Colombo and Kochi in India and between Colombo and Tuticorin in
India.
------------ --------- --------- --------- -----
SAARC harps on economic union
http://www.financia lexpress. com/news/ Saarc-harps- on-economic-
union/217397/ 0
ASHOK B SHARMA
Posted online: Sunday , September 16, 2007 at 0337 hrs IST
The sub-continent may soon be in for a kind of economic structure
similar to that of the Asean. The eight-nation South Asian
Association for Regional Cooperation (SAARC), which met here on
Saturday, discussed a number of issues to promote this.
The finance ministers of the eight-nation bloc held formation of the
South Asian Economic Union, which eventually may become an Asean-
type structure. It is expected to take shape by 2010 and will
integrate the region economically.
The ministers also discussed the proposed Saarc Development Fund,
the South Asian Customs Union, enhancing collaborations between
capital market regulators in the region and study ways to counter
terror funding. However, speaking to reporters after the meeting,
finance minister P Chidambaram, made it clear that "one capital
market or cross-border listings are for the distant future".
Commenting on the South Asian Economic Union, Chidambaram
said, "While an economic union envisages full and complete
integration of the economies, the first step towards that is hassle-
free procedures at the border."
For this, the ministers have requested the inter-governmental group
on customs cooperation to finalise its recommendations on
harmonisation of customs tariffs. The South Asian Customs Union
would also be an important step in this direction.
The ministers have also decided to set up an expert group on the
development of capital markets, which would recommend ways to
facilitate cooperation in this field. They have also recommended
harmonisation of securities market regulations for enforcement,
compliance, investor protection and information sharing. Such
efforts would be essential to pre-empt financial crises and prevent
regulatory failures.
Chidambaram said there was now a growing awareness that capital
markets in each member country would require some kind of
coordination and integration. However he added, "I think, questions
about one capital market or cross-border listings are for the
distant future. At the moment, what we are trying to see is whether
capital market regulators can work together, share information and
cooperate with each other through MoUs."An inter-governmental expert
group on financial issues would develop the road map for the South
Asian Economic Union, the South Asian Customs Union and the SAARC
Development Fund, in a gradual and phased manner, the minister
added.
The finance ministers of the regional bloc also agreed to
operationalise the proposed SAARC Development Fund as soon as
possible. The fund, with a corpus of $300 million, will work on
economic, social and infrastructure issues in the region.
Meanwhile, finance secretaries of SAARC, which met on Friday, have
decided to study ways to counter terror funding in the region.
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