SAARC finance ministers, secretaries conclude successful talks in Colombo

Saturday, 31 August 2013 00:08 - - {{hitsCtrl.values.hits}}

The sixth meeting of SAARC finance ministers and SAARC finance secretaries was held in Colombo from 29-30 August. Matters related to allowing the greater flow of financial capital and interregional long-term investments, the draft agreement on promotion and protection of investment and the economic integration in the SAARC region towards creating South Asia’s economic union, the global economic situation and its impact on SAARC economies, and developing a regionally coordinated mechanism to forecast external shocks for the region to be geared for an unexpected financial crisis were among the items discussed at the meeting. The meeting no doubt will give further impetus to the cooperation among the finance ministers of the SAARC members states and prepare the ground to discuss matters pertaining to cooperation on finance related matters, in keeping with the cardinal principles enshrined in the SAARC Charger to improve the quality and life of the people in the region through accelerated economic growth and social progress.

The visiting ministers had the privilege of paying a courtesy call on the President of Sri Lanka yesterday (30), providing the ideal platform for the finance ministers from the region, as key decision makers, to collectively discuss the most vital and pressing finance related matters in the region, with the long-term objective of projecting the enormous economic potential of South Asia.