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FP Staff Report
KARACHI: "Phenomenon
of Global Economic Shift to Asia is the outcome of the FDI
inflow in Asia particularly China and APEC countries, which
has been instrumental in augmenting productivity and innovation,
making Asia the next center of gravity for international business.
FDI was imperative for South Asia to ensure greater economic
cooperation and creating regional synergies."
This was stated by Tariq Sayeed, President SAARC Chamber of
Commerce & Industry (SCCI), in his discussion note at
session on "Global Economic Shift to Asia: regional synergies"
at International Business Conference, organized by Dhaka Chamber
of Commerce & Industry from October 31- November 1, 2008.
The session was chaired and addressed by Jairam Ramesh, State
Minister of Commerce, India followed by Prof G. L. Peiris,
Minister for export Development and International trade, Sri
Lanka, Professor Rehman Sobhan, Chairman Central policy Department-
a civil society think tank in Bangladesh and Dash Sonam Shoring,
Secretary, economic Affairs, Bhutan and was moderated by Dr.
Hossain Zillur Rehman, Advisor for Commerce, Government of
Bangladesh.
The speakers of the session highlighted the role of Asia in
Global economy and identified Human Resource Development,
institutional capacity building, enhanced productivity and
greater regional cooperation as most important elements to
transform Asia as an engine of Global economic growth.
Citing the incredible economic growth of China, President
SCCI said that FDI was key element behind the rapid and sustainable
economic growth of China and its emergence as an economic
might on the Global economic horizon. He also emphasized the
need for public-private dialogue on economic issues reiterating
the need for augmenting role of Private Sector in the negotiation
process and prior consultation on policy formulation. He was
of the opinion that being the important stakeholder, Private
sector should be consulted effectively be the respective Government
so that an effective regional strategy is adopted to cope
with the regional challenges.
He said that the present leadership in Pakistan has the desire
to promote regional cooperation and its recent trade policy
towards India will pave the way for greater bilateral cooperation,
which will positively affect the entire region of South Asia.
He urged upon the leaders of the South Asia to ensure peace
in the region and formulate a combined strategy to cope with
the issue of terrorism in all its manifestation, which was
the biggest hurdle in the economic development of the region.
Pakistan delegation led by Tariq Sayeed included Sultan Ahmed
Chawla, Life member SCCI, Ashfaq Ahmed, Chairman, Pakistan-Bangladesh
Joint Council of FPCCI, Saquib Fayyaz Maggoon, CE, Dhaka Trading
and Mr. Iqbal Tabish Secretary General SCCI.
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