Bangladesh stresses on SAFTA implementation at SAARC finance ministers’ meet

Bangladesh has stressed on “effective” implementation of South Asian free trade agreement or SAFTA and other trade related treaties within the SAARC at the finance ministers’ meeting in Islamabad.

Senior Correspondentbdnews24.com

Published : 27 August 2016, 07:50 PM

Updated : 27 August 2016, 07:50 PM

State Minister for Finance Affairs MA Mannan said many “institutional and legal framework” for regional cooperation had been built up through agreements and programmes covering wide range of areas of importance to the region.

But there was no “notable progress” towards the aspired goal, he observed, “its success largely hinging upon effective implementation of SAFTA and other trade related treaties.”

He was leading the Bangladesh delegation at the Friday’s meet ahead of the upcoming summit, the foreign ministry said.

The state minister said the challenge before the member states was to ensure that “our decisions are implemented with priority in order to realize the goals of our charter to promote the welfare of the people of South Asia and to accelerate economic growth, social progress and cultural development in the region”.

He also urged all member states for “early finalization” of schedules of specific commitments under SAARC Agreement on Trade and Services (SATIS), the Draft Text of the SAARC Agreement on Promotion and Protection of Investment, and Draft SAARC Agreement on Avoidance of Double Taxation and Mutual Administrative Assistance in Tax Matters.

Bangladesh High Commissioner to Pakistan Tarik Ahsan, Joint Secretary of the Finance Division Mohammad Yousuf, and the foreign ministry’s Director General (SAARC and BIMSTEC) Tareq Ahmed were the part of the state minister’s delegation, among others.

The state minister earlier together with other finance ministers’ called on the Pakistan Prime Minister, Nawaz Sharif, who inaugurated the meeting.