‘Sino-SAARC coalition to be new force of economic development’

LAHORE: China can trigger socioeconomic development of the South Asian Association for Regional Cooperation (SAARC) region, and coalescing Chinese expertise and technology with the natural and human resources of South Asia can be a new force of economic development.
SAARC Chamber of Commerce and Industries President Suraj Vaidya said this while chairing the preparatory meeting of the 11th China South Asia Business Forum (CSABF), a statement said on Monday.
The participants included Chinese Business Leaders and Office bearers of the national chamber of commerce and industries of the eight SAARC countries.
The meeting made important decisions regarding the forum scheduled in June 2016. The CSABF will be attended by Head of States from SAARC countries, distinguished business leaders from China and SAARC region, and more than 1,000 participants from the regions.
Vaidya said that the CSABF has truly accomplished its goals and enhanced the China SAARC trade tremendously.
“The economic integration of China and South Asian region will form a huge market of 2.8 billion people, which can result in an economic revolution across the region,” Vaidya added. He said that the South Asian Association for Regional Cooperation region is looking towards China for mega investments in infrastructure development to increase connectivity, and noted improved connectivity as the prerequisite of incessant trade.
In his remarks Yu Jianlong, Secretary General, China Chamber of International Commerce, said the Sino-SAARC trade relation was centuries old and based upon common aspirations for prosperity, progress, and peace. The forum has been a success in bringing the two dynamic regions more close.
Jialong said, “The business leadership of both the regions is committed to strengthen further the aspirations of peace and progress, and we are looking forward to work together to take our economic and trade cooperation to new highs.”
Ahmed Saleem, Ambassador of Maldives to Pakistan and Former Secretary General, South Asian Association for Regional Cooperation, said that, China has remarkably experienced beyond just economic development by gradually decreasing its poverty from 40 percent to eight percent.
“These experiences from China can be helpful for the South Asian countries along with investments and technological aid.”
He stressed upon people to people interaction, and said improved communication and interaction will add to the socio-economic development, resolve regional conflicts, and strengthen the integration of the SAARC region.
Xiong Qinghua, Chairman, CCPIT Yunnan Sub-Council, Peoples’ Republic of China, said since the inception of the China South Asia Business Forum in 2004, bilateral trade between China and South Asia increased with a tremendous growth rate of 15 percent per annum.
“We hope that in future this pace of Sino-SAARC bilateral trade will increase with no bounds and will result in prosperity and progress of the two regions,” Qinghua added.
Iftikhar Ali Malik, Vice President-SAARC Chamber of Commerce and Industries, Pakistan Chapter said, “The China South Asia Business Forum has provided an important podium for better communication and collaboration among the private sectors of China and South Asian Region.”