Two day SAARC Finance Ministers conference to begin from August 25

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ISLAMABAD, Aug 17 (APP): Two day South Asian Association for
Regional Corporation (SAARC) Finance Ministers’ conference will
begin here from August, 25.

Ministry of Finance sources told APP that government has sent
invitation letters to the Finance Ministers of the SAARC members state.
Finance Ministers from Afghanistan, Bangladesh, Bhutan, India,
Maldives, Nepal, Pakistan and Sri Lanka are likely to attend the
conference.

The official sources said that on August 25, the SAARC Finance
Secretaries meeting would be held here prior to the conference of
the Finance Ministers meeting.

They added that agenda of the conference would be regional
cooperation in financial and economic sectors among the member states.

“South Asia Free Trade Agreement (SAFTA) and SAARC financial
and banking system and investment opportunities in the region would also be discussed for the socio economic prosperity in the region besides discussing ways and means for the uplift of the people of the member states”, the sources added.

They further said that the conference would also discuss and
devise a mechanism for regional trade promotion.

SAARC Development Fund (SDC) operations would be made more
effective for the development of the region.

They said that SDC was establish in 2010 with a total capital
of US $ 1.5 billion while its paid up capital is about US $ 300 million.
They added that SAARC Finance Ministers, after the conclusion
of the meeting, would also attend the SDC Council meeting jointly.
The official sources added that Ministry of Finance has made
all necessary arrangements for holding of the conference.