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Home  » Business » PM pitches for freer trade in South Asia

PM pitches for freer trade in South Asia

By Priyanka Tikoo and Ajay Kaul in Thimphu
April 28, 2010 15:39 IST
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Pitching for freer movement of goods, services and people across South Asia, Prime Minister Manmohan Singh on Wednesday warned that the region faces the risk of "marginalisation and stagnation" if member countries fail to build SAARC as a group that is better connected and better empowered.

Addressing the 16th SAARC Summit here, he regretted that the share of intra-regional trade and investment in total trade and investment flows in the region was far below that of East and South-East Asia and much less the potential.

"The 21st century cannot be an Asian century unless South Asia marches together," Singh said as he underlined the need for translating regional institutions into activities, conventions into programmes and official statements into popular sentiments.

"I have a vision of inclusive growth in South Asia both within our countries and for the region of South Asia as a whole," Singh told the Summit attended by leaders from Bhutan, Bangladesh, Pakistan, Afghanistan, Nepal, Sri Lanka and Maldives.

"Regional and sub-regional imbalances in growth affect all of us in varying degrees, and have led to social unrest," he said, adding "This will require much greater attention in the future, with an emphasis on development at the grassroots level."

Pressing for greater regional cooperation, he said it should enable freer movement of people, of goods, of services and of ideas. "It should help us re-discover our shared heritage and build our common future," Singh said.

"We must ask ourselves what kind of South Asia we wish to create for our present and future generations? At this anniversary Summit we should renew our compact to build a region that is better connected, better empowered, better fed and better educated," he said.

He said South Asia can once again become part of global trading routes and networks and "influence the global discourse" on issues of concern to the region. "If we do not, we run the risk of marginalisation and stagnation."

Noting that SAARC member countries are able to cooperate individually as members in various international fora, he said, it was, however, "unfortunate that, together, the people of South Asia do not have the voice they should and could have in the global polity."

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Priyanka Tikoo and Ajay Kaul in Thimphu
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