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SAARC
Summit agrees to revise sensitive list of items, NTBs
Colombo,
Aug 3 (UNI) The South Asian Association for Regional Cooperation
(SAARC) summit today decided to revise the sensitive list
of items and Non-Trade Barriers (NTBs), which hinder effective
trade liberalisation and economic integration of the region,
while emphasising their commitment to South Asia Free Trade
Area (SAFTA).
Expressing
their commitment to the SAFTA in letter and spirit, a declaration
issued by the leaders of the eight-member SAARC directed the
Ministerial Council to take immediate steps to expedite the
process of Asia's emergence as the ''powerhouse of the world''.
They
also recommended that while revising the sensitive list, special
consideration should be given to the Least Developed Countries
(LDC) of the region. The SAFTA committee of experts has been
asked to expeditiously resolve the issue of Non Tariff Measures
(NTM) and Para Tariff Measures (PTM) to facilitate and enhance
trade under the SAFTA.
The
declaration covered a whole range of issues including steps
to promote cooperation in science and technology, tourism,
education and social development.
The
summit was attended by Prime Ministers and heads of states
of India, Afghanistan, Pakistan Nepal, Bangladesh, Bhutan
and Maldives, besides host Sri Lanka.
The
leaders stressed the need for development of communication
system and transport infrastructure facilities specially for
the landlocked countries to promote Intra-SAARC trade.
They
felt that access to energy is critical for growth and development.
Escalation of oil prices has threatened energy security and
the leaders recognised the need to build up renewable alternative
energy resources including indigenous hydro, solar and wind
power while introducing the energy reforms.
Referring
to the road connectivity, the SAARC leaders decided to focus
on better connectivity not only within South Asia but with
the rest of the world.
UNI
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