PM Announces Measure For Greater SAARC Economic Integration

Prime Minister Dr. Manmohan Singh on 10^th Nov announced a series of measures to give a big push to the process of greater economic integration of SAARC member countries. This he said will help realise the full economic potential of South Asian countries. Addressing the SAARC Summit at Shangrila Island in Maldives this evening, Dr. Manmohan Singh announced New Delhi’s decision to reduce the list of restricted items under SAFTA from 480 to just 25. He also called for strengthening the air connectivity with finalizing the agreement on regional air services.

Dr. Manmohan Singh also announced increase in the scholarships from 50 to 100 for the students in the South Asian University, which has begun its work. He also said, India will extend ten scholarships for those who work in the area of environmental protection at the Forest Research Institute in Dehradun. The Prime Minister asserted greater economic integration among the countries of the grouping is paramount to tap the huge opportunities available in the region particularly the natural resources like hydro-power and marine resources.

Dr. Singh advocated for creating such an atmosphere in which the wealth created in the respective countries is used for its development. He also proposed to have greater sea-links and referred to the ferry service being started between India, Maldives and Sri Lanka.

Dr. Singh referred to the present global economic crisis and urged the SAARC leaders to work in unison to offset its impact. Dr. Manmohan Singh said that imaginative and innovative ways have to be created to maintain the tempo of growth. This, he said, has to be inconsonance with the strength of the country of the grouping. He said that the economic crisis will have its impact on the global scenario and that is why it is all the more important to look for other alternatives.

The Prime Minister said that there is a collective commitment and desire among the SAARC leaders to give greater meaning to SAARC and called for translating affirmations into action.