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| Wednesday, 7 January 2004 |
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Uditha Kumarasinghe reporting from Islamabad South Asian leaders ended their deliberations at the 12th SAARC Summit in Islamabad yesterday, vowing to develop their region through free trade, a comprehensive poverty alleviation drive and a firm commitment to regional peace. The South Asia Free Trade Agreement, a Social Charter for poverty alleviation and a pledge by India and Pakistan to resume their peace dialogue were the highlights of the three-day Summit in the Pakistani capital. Indian Prime Minister Atal Behari Vajpayee and Pakistan President Pervez Musharaff met for the first time since 2001 on the sidelines of the Summit. The leaders of the seven countries also adopted the Additional Protocol to the SAARC Regional Convention on the Suppression of Terrorism. The South Asia Free Trade Area agreement to reduce or eliminate tariffs by SAARC countries will come into force from 2006 and Pakistan, India and Sri Lanka will cut tariffs to between zero and five per cent within seven years of the start of the agreement. The other countries will get 10 years. The adoption of SAARC Social Charter is also a historic development achieved by the 12th SAARC Summit. It would place people at the centre of development and direct their economies to meet human needs more effectively. Foreign Ministers of the SAARC countries signed these documents on these agreements in the presence of their Heads of State and Government. Foreign Minister Tyronne Fernando signed the agreements representing Sri Lanka. The SAARC leaders unanimously adopted the Islamabad Declaration on the 12th SAARC Summit at Islamabad from January 4 to 6. Delivering the concluding address, Pakistan Prime Minister Zafarullah Khan Jamali said the agreement for SAFTA is a historic milestone achieved by the 12th SAARC Summit. The Prime Minister thanked SAARC leaders for adopting SAFTA and the Foreign Ministers for their commitment towards SAFTA. He said the SAARC has effectively fostered the promotion of socio-economic cooperation and mutual understanding among the seven nations. SAFTA will give a new dimension to further develop the mutual trade and economic cooperation. The adoption of SAARC Social Charter is also a historic development achieved by the 12th SAARC Summit. It would place people at the centre of development and direct their economies to meet human needs more effectively. Jamali said the new plans will help eradicate poverty in the region. It will also take measures to create income generating activities for the poor. "The Islamabad Declaration is a roadmap for the SAARC guided by the vision of a peaceful and prosperous South Asia and proud of its rich culture and traditions. All SAARC Leaders extended their fullest cooperation to make 12th SAARC Summit a great success," he said. Bangladesh Prime Minister Begum Khaleda Zia as the host of the next SAARC Summit in Bangladesh in 2005 made a special vote of thanks. Business leaders say Pakistan and India's $1.5 billion trade through unofficial channels and third countries could double with a trade deal and better relations. While a South Asian Preferential Trading Arrangement has existed since December 1995, its usefulness has been limited, with regional trade averaging just about $3.0 billion, or less than five percent of SAARC members' global trade. India, Pakistan to start dialogue in February India and Pakistan have agreed to start a broad dialogue next month in an effort to settle their disputes, after a ground-breaking meeting between their leaders, Islamabad, Pakistan, the two sides said yesterday. "To carry the process forward, the president of Pakistan and the prime minister of India have agreed to commence the process of composite dialogue in February 2004," Indian Foreign Minister Yashwant Sinha told a news conference, reading from a joint statement. - Reuters |
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