Daijiworld Media Network—Panaji (CN)
Panaji, Aug 5: Governor of Goa Dr S S Sidhu inaugurated the seminar on trade facilitation in South Asia, organized by SAARC Chamber of Commerce and Industry and Federation of Indian Chambers of Commerce and Industry at Utorda in South Goa on Wednesday August 4.
Delegates from SAARC countries are attending the one-day meet. Speaking on the occasion, the Governor complimented the organizers for holding its seminar and executive council meeting in Goa and said that the theme of the seminar is crucial as far as economic well-being of the countries in South Asia are concerned.
He said, “Although South Asian economies have achieved impressive growth rates close to 6.5 percent per annum, the region lags behind when one measures its integration in terms of intra-regional trade in goods or intra-regional flows in capital”.
The Governor said that hopes of greater economic integration in the region has been re-kindled with SAFTA (SAARC Free Trade Agreement) coming into operation in mid-2006.
“However, SAFTA agreement has several limitations as it currently stands. It is in this context that the theme ‘Trade Facilitation: A Catalyst for Workable SAFTA’ is apt and highlights the fact that much remains to be done in the field of the trade facilitation to promote economic integration in the region”, said Dr Sidhu.
“Improving connectivity in the region through co-operation in transport, energy, IT, and trade facilitation, would go a long way in further strengthening economic integration along with fast tracking goods liberalization under SAFTA and incorporating services and investments for liberalization in the region”, he added.
“The countries with inadequate trade infrastructure and inefficient operational systems are less capable of benefiting from the opportunities and benefits of expanding global trade”, said Dr Sidhu.
He said that some researchers have identified four indicators that measure four different categories of trade facilitation efforts. These indicators are port efficiency, custom environment, regulatory environment, and e-business usage.
Dr Sidhu talked of some critical issues which need to be addressed for unleashing South Asia’s growth potential. They include integrity and improving cross border transportation linkages including through conclusion of agreements on rail and road transportation; reducing the trade transportation cost; high investment requirements in the infrastructure in South Asian region; improving the efficiency of border; promoting multi-modal transportation and opening of South Asia Regional Transit and adopting South Asian common transport policy including linking Central Asia with East Asia through Afghanistan-Pakistan-India-Bangladesh-Myanmar corridor through a transit arrangement.
Annisul Huq, president, SAARC, Chamber of Commerce and Industry, said, “Infrastructure in South Asia needs to be improved further. Recommendations made earlier at different forums need to be implemented.”
He called for an action plan in this direction and said that political will in the region is required for this.
Siegfried Herzog, regional director–South Asia, Friedrich Naumann Foundation, and Cesar Menezes, president, Goa Chamber of Commerce and Industry, spoke on the occasion.
Vikramjit Singh Sahney, senior vice-president, SAARC Chamber of Commerce and Industry and executive committee member, FICCI, welcomed the guests, Ashutosh Bajpai, chairman, Trade Facilitation Council, SAARC Chamber of Commerce and Industry, proposed the vote of thanks.
Iqbal Tabish, secretary general, SAARC Chamber of Commerce and Industry, Arvind Mehta, joint secretary–SAARC, Department of Commerce, Ministry of Commerce, Government of India, were amongst those present on the occasion.