Need for enhancing trade among Saarc member countries stressed

Regional Connectivity through One-Belt-One-Road (OBOR) initiative of China has opened new avenues of Industrial and commercial activities in South Asian countries and the SAARC Chamber of Commerce & Industry (SCCI) should play a proactive role to exploit these opportunities in order to weed out poverty from this region, said Sheikh Farooq Yousuf Senior Vice President Faisalabad Chamber of Commerce &Industry (FCCI).
He had a meeting with Ruwan Edirisinghe President SAARC Chamber of Commerce & Industry (SCCI) during a workshop on "Promoting Outreach and Services to SME's to improve EBMO's representativeness" in Colombo, Sri Lanka. Farooq Yousaf expressed concern that various economic blocks have played an instrumental role in enhancing their regional trade but SAARC failed to achieve this objective due to various reasons and hence this region is suffering multiple economic problems of poverty as well as instability.
He also mentioned that there were chronic issues between different European countries but somehow, they managed these issues to promote their regional trade for the benefit of entire European Union.
He lamented that regional trade between SAARC member countries is only 5 percent which should be around 60 percent. He said that SAARC Chamber should fix a target to increase at least 5 to 10 percent trade between its member countries on yearly basis. They also discussed various issues hampering trade in this region and decided to encourage their respective SME sectors to focus on regional trade.
Farooq Yousaf also extended an invitation to Ruwan Edirsinghe to visit FCCI at a time and date convenient to him. Ruwan Edirisinghe welcomed the viable proposals of Sheikh Farooq Yousaf and assured him to discuss the same during a high level meeting of SAARC Chamber. He also accepted the invitation of Farooq Yousuf to visit Faisalabad and told that a permanent office of SAARC Chamber will be established in Islamabad during next month. "It will not only help the business community of Pakistan to increase its trade to other SAARC member countries but will also provide an opportunity for the office bearers of SAAR Chamber to visit Pakistan frequently", he added.