Saarc CCI calls for deeper economic cooperation with China

President of SAARC Chamber of Commerce and Industry (SAARC CCI) Ruwan Edirisinghe Monday urged for deeper economic cooperation with China saying that this collaboration will usher in a new era of progress, prosperity, development, economic growth and welfare of the people of the region.
Briefing the SAARC CCI senior vice president Iftikhar Ali Malik by telephone about the outcome of the Chinese visit, Ruwan said their recent visit to China was a great success in term of increasing trade volume among the SAARC states and China. He said the South Asian states to make SAARC a vibrant and viable organisation to reap the advantages of regional connectivity schemes such as China's One-Belt One Road (OBOR) initiative, which also includes the mega project of China-Pakistan Economic Corridor (CPEC) and if that happens, the relations of these countries with China will further improve to the benefit of the entire SAARC.
He said there is dire need of fostering trade relation with China from collective platform of SAARC instead of developing relation separately. He said that many South Asian countries were entering new relations with China. "For one, China has offered generous proposals in the region. But China is also investing in other countries, including Nepal and Bangladesh. Yet, as of now, China has to deal with these South Asian countries separately, a situation not much beneficial to both SAARC and China."
He said while all the South Asian countries were working in the same direction individually why they did not work together. SAARC CCI high-level business delegation attended the three-day 13th China South Asia Business Forum held in Kunming, Yunnan Province, China while Shaharyar Ali Malik, Vice Chairman SAARC Youth Entrepreneurs Forum represented Pakistan.
Quoting example of ASEAN, he said that just as Indonesia, the biggest economy in the ASEAN, allowed smaller countries such as Singapore to take the lead, India too must take a back seat in decision-making, enabling others to build a more harmonious SAARC process.
Malik appreciating the role and result oriented efforts of Ruwan for making SAARC Chamber more vibrant, said Pakistan seeks greater role of China in SAARC states as China is always keen to support accelerating connectivity to South Asia. He said China has deepened cooperation in trade, investment and agriculture in SAARC since it became an observer in 2006. Chinese investments into South Asia amounted to $30 billion and Chinese loans at concessional rates to South Asia amounted to $25 billion. Besides this, China was giving 10,000 scholarships for South Asian students, apart from providing skills training to thousands of others.