Saarc CCI vision 2030 to usher in era of prosperity, progress in region: Ruwan

President SAARC Chamber of Commerce and Industry, Ruwan Edirisinghe Saturday said SAARC Chamber vision 2030 will usher an era of prosperity, progress and development through economic integration in the region by fully exploitation of indigenous natural resources on modern scientific lines in the member countries.
He expressed these views while talking to SAARC CCI Senior Vice President, Iftikhar Ali Malik by telephone from Colombo here today. South Asia has tremendous trade potential, which needs to be tapped with a shared vision of 2030 envisaged to address core trade issues which are hindering the overall growth of the region.
According to a spokesman, Ruwan Edirisinghe said Asian economies including China, Japan and India are expanding and gearing up to capture world markets which clearly indicates the importance of Asia in the global economy. He was of the opinion that South Asia will play an important role in the future particularly by materializing the vision of 2030.
"In short-term, what we want to do is business between our countries; trade and industrial development, and transportation problems and all that to sort out up to the maximum extent that we can do. And as long-term target we want to use the opportunities of South Asian countries; their economies, to bring up SAARC CCI as the best, vibrant chamber in the world by 2030," he added.
While explaining security and political barriers as the main challenges faced by South Asian countries he urged to celebrate the current successes instead of focusing on the issues. The SAARC nations showed the best improvement in terms of GDP growth which averages at over 6.5 percent. It means SAARC countries have the highest rate of growing economies in the world, he said adding that the biggest economies for the next two decades are supposed to be from Asia, which is a vital opportunity for South Asian countries.
Edirisinghe mentioned that political unrest is happening all over the world including Europe and America. Therefore, he recommends the business world to look beyond it and find solutions regardless of imbalanced political situations. About China's growing influence in the region, Edirisinghe said, "We should be able to look at that as an opportunity given their big population which provides a good market to tap into.
On signing free trade agreement, the underdeveloped countries get less benefit than developed countries because negotiation and bureaucracy in underdeveloped countries is much weaker than that of strong countries, he added. SAARC Vice President, Iftikhar Ali Malik said about 55 percent of the total potential for intra-regional trade in South Asia has not been fully exploited yet and this can be improved through shared vision about objectives, transfer of technology and exchange of research and development.
Despite multiple hurdles, it is a good omen that SAARC CCI role for promotion of business environment in the region was appreciated by its critics, he said. Highlighting the importance of the South Asia in the world economy, he said after the initiation of Pak-china economic corridor, Pakistan's role in global trade supply chain would have multiplier effect on socio-economics of the region of South Asia as well.