JVs among SAARC nations to aid development, alleviate poverty

NEW DELHI: Better exchange, cooperation and building of joint ventures among SAARC countries would lead to development of the region and help alleviating poverty, said Union Minister VK Singh.

"Exchange, cooperation and building of joint ventures amongst SAARC countries would help in development of nations in the region besides alleviating poverty," the Minister of State for External Affairs said at SAARC Chamber of Commerce and Industry's (SAARC CCI) executive committee meeting.

The South Asian Association for Regional Cooperation is an economic and geopolitical organisation of eight countries in South Asia including India, Pakistan, Maldives and Bangladesh.

Singh said: "It is time to ensure that SAARC's trade and industry comes up to a level where it can be truly perceived as an integrated community."

He urged the industry to develop a concrete, doable and progressive roadmap to tap benefits of diverse sectors and resources of the SAARC member states.

"Indian government would assist the SAARC community to remove the roadblocks to trade," he added.

SAARC CCI Chairman Advisory Council Vikramjit Singh Sahney said: "Prime Minister Narendra Modi has assured the industry that the SAARC frequent business traveller pass would become a reality soon, we request him to expedite the process."

The meeting was hosted by FICCI to take forward the agenda envisioned by leaders of SAARC during 18th SAARC Summit in Kathmandu held November last year.

Speaking on the visa exemption sticker, Sahney said that at present only 500 businessmen from each SAARC member states are eligible for it, requested that the number of visa exemption stickers should be increased to 1,000 for each SAARC member state.