SAARC to form Economic Union:

'Remove terrorism, separatism for regional stability'

It is vital to address terrorism, extremism and separatism in the South Asian region to achieve regional stability, said International Monetary Cooperation (Senior) Minister Sarath Amunugama.

He was addressing the First South Asia Forum in New Delhi as the leader of the Sri Lankan delegation. These special Ministerial Sessions were held under the theme '25 years of SAARC - Achievements and Challenges'.

The objective of the South Asia Forum was to advance economic interests with the integration of South Asia, moving towards a South Asian Economic Union.

"Economic advancement and integration would not take place without regional stability," he added thus underscoring the importance of addressing terrorism and terrorism related issues.

Senior Minister Amunugama said with the new dawn of permanent peace and stability in the country, the GDP has grown to over eight percent. He quoted a compelling example of the construction of the Hambantota Port.

He recalled that an agreement to construct a power plant in Sampur was signed with the Indian government. Senior Minister Amunugama expressed the need to focus on key elements, in the sphere of economic integration leading to an Economic Union, such as energy, connectivity, creation of employment, alleviation of poverty, intra-regional trade and investment and people to people contact among others.

Senior Minister Amunugama in his address also expressed condolences over the bomb blast which killed dozens of people in New Delhi recently.

The key recommendations of the South Asia Forum will be submitted to the 17th SAARC Summit scheduled in Male, Maldives, on November 10-12, to which President Mahinda Rajapaksa will be leading the Sri Lankan delegation.