ISDS Case Map
SAARC
By observing the overall mood at the 14th SAARC summit that was held in New Delhi in April of 2007, one might sense that a change in the perception about SAARC may be occurring.
Indian Foreign Secretary Shivshankar Menon yesterday urged India's smaller neighbours to overcome political issues to become stakeholders in the India-led regional economic growth by dismantling trade and road and water transport barriers.
Business houses in South Asian region are seeking specific timeframe to remove bottlenecks that hinder trade and investment in the SAARC region. It is sad to note that whatever developments take place in the business and political forums; those are not implemented at the operation level.
It remains unclear to me what the advantages of being part of the Saarc grouping are over entering into bilateral relations with each individual Saarc country instead. I have always like the concept of Bimstec instead.
Bangladesh's business leaders are rather dismayed at India's recent duty-free market access offer, as they have expressed the view that mere duty-free access could not ensure free flow of goods into Indian market unless non-tariff and para-tariff barriers are removed.
Business leaders Sunday expressed their dismay that the SAARC had failed to deliver "much" in the fields of economy and politics in the South Asian region, although it could attract the attention of the international community.
The SAARC countries are now striving to set a uniform product standard for the group after years of complaints by the weaker ones among them about non-acceptance of their national certifications of product quality by their stronger counterparts. It has persistently posed as a difficult non-trade barrier that has obstructed bilateral trade.
Trade experts say countries in the South Asian region can form a major textile and apparel hub - provided they can work together. Right now, mutual mistrust and trade barriers against each other, are stopping SAARC countries from cashing in on a waiting opportunity.
The Safta on Wednesday received a big boost with Pakistan agreeing to the views of Saarc leaders that the pact liberalising regional trade be implemented in “letter and spirit”.
The European Commission (EC) has offered to share expertise and experience in all areas of interest to South Asian Association for Regional Cooperation (Saarc) as well as in the implementation of the South Asia Free Trade Agreement (Safta).
