SAARC commerce ministers to meet Feb 2

With the confirmation of participation from all the member states, the 3rd meeting of the SAARC commerce ministers has now been finalised to be held early next month, a competent source at the Ministry of Foreign Affairs said yesterday, reports BSS.

Prime Minister Sheikh Hasina will inaugurate the two-day meeting her on February 2.

The minister's meeting, which will review the seven nation forum's (SAARC's) efforts for strengthening the regional economic cooperation, will be preceded by a meeting of the senior officials of the member countries. The 10th meeting of CEC (Committee on Economic Cooperation) at the level of commerce secretary will be held from January 31 to February 1.

The main objective of the commerce ministers' meet is to increase cooperation in trade, commercial and economic fields among SAARC countries.

The second meeting of SAARC commerce ministers was held last year in Islamabad while the first was held in New Delhi in 1996.

The Dhaka meeting, besides reviewing the implementation of the decisions of last meeting in April, 1998, will also discuss means of overcoming any problem that stands in the way.

The source said, despite high hopes, SAPTA (South Asian Preferential Trade Agreement), has failed to achieve the expectations of the members. He even pointed out that instead of rise in the inter-SAARC trade has fallen in the post-SAPTA era.

Replying to a question, the source said intra-SAARC trade is now around four per cent of the combined two-way trade of member states amounting to over one hundred billion US dollars. Bangladesh will ask for certain concessions in respect of rules of origin so that its exports, specially garments to India could be increased.