SCCI recognises the continued and valuable partnership with FNSt

Both the outgoing and the incoming Presidents recognized the commitment of the Friedrich-Naumann-Stiftung in supporting SCCI right from its inception in 1992 and thanked FNSt for their contributions. The incoming President also pledged to strengthen the partnership further in achieving the common objective of a South Asian Economic Union. In his remarks, he expressed his optimism to continuing the relationship with the FNSt in the years to come. FNSt works to strengthen the regional economic cooperation of South Asia through its partner SAARC Chamber of Commerce and Industry headquartered in Islamabad, Pakistan.

At an impressive ceremony conducted in conventional Bhutanese tradition, the Honorable Prime Minister of Bhutan, H. E. Lyonpo Sangay Ngedup, graced the occasion and mentioned in his address that an "Island of Prosperity is much better than an Ocean of Misery". The ceremony was attended by the Minister for Trade and Industry and the Secretary General of SAARC, H. E. Lyonpo Chenkyab Dorji.

The new President of SCCI, Mr. Dorji, outlined his vision of a strong South Asia and a region full of prosperity. He emphasized the need for a political commitment to move from SAFTA to a South Asian Economic Union. Cooperation in trade is a means to eradicate poverty and SCCI has played a crucial role to promote SAFTA, he said. The main objective of SAFTA would be to bring tangible benefits to make South Asia a more prosperous region.

Taking over the Presidency, he focused on the primary objectives of SCCI as those of creating awareness on economic issues with openness and respect for one another. Increasing P2P (people to people) contacts within the region would bring peace and brotherhood in the region and help to promote regional trade and investments.

The outgoing President of SCCI, Mr. Macky Hashim from Sri Lanka pointed out that the SAARC countries had enormous potential with more than a billion human resources. This not only meant the availability of immense resources for production but also the huge market that the region offers for international players.

The SAARC Chamber of Commerce and Industry also held a seminar on Trade Liberalisation in SAARC benefiting from the galaxy of people who had come to Bhutan for this occasion. Speaking at the Trade Symposium, the Minister for Trade and Industry stressed the importance of Bhutan in regional cooperation. He alleged that SAARC presents unlimited growth potential and immense opportunities. He pointed out that Bhutan was in the process of accession to the WTO and reemphasized the importance of trade for poverty alleviation and general development of the region.

The Secretary General of SAARC, H. E. Lyonpo Chenkyab Dorji, said that the SAARC governments identify the growth of the SAARC region together with the active participation of the business community. The cooperation between SAARC secretariat and SAARC Chamber of Commerce and Industry is likely to be mutually beneficial to both institutions and all the people of the region. The successfully concluded negotiations at the Dhaka Summit showered in the implementation process of SAFTA. The SAARC Chamber of Commerce and Industry (SCCI) has played a vital role in the economic development of the region. The private sector has been seen as a key factor for higher economic growth.

Subodh Kumar