FBCCI to study farm sector bond in SAARC
Monday, 28 January 2008

Staff Correspondent

The Federation of Bangladesh Chambers of Commerce and Industry has been assigned to study the potentials of regional cooperation in agriculture and livestock sectors in SAARC countries.

The apex trade boy has been tasked with the research work as part of a series of studies planned by the SAARC Chamber of Commerce and Industry in economic sectors of the region.

The SAARC chamber earlier identified major areas for study—trade facilitation and tariffs, tourism, finance, monetary policies and common stock exchanges, infrastructure, agriculture and livestock, investment destinations.

It assigned the member apex bodies of Bangladesh, India, Pakistan, Sri Lanka and Nepal to do the studies separately and recommend how the private sectors can work more closely for mutual benefits and overall development of the region.

FBCCI administrator Syed Manzur Elahi said cooperation in agriculture for higher output was a vital need for SAARC countries, which face common concerns for food supply shortage and soaring inflation.

Citing India's achievement in increasing agricultural productions through scientific advancement in tissue culture and Pakistan's development in livestock and fruit processing sectors, Elahi said, 'SAARC counties have a lot of scopes to share technologies and ideas in agriculture.'

He said real implementation of regional development plans depended on strong political commitment of SAARC governments and their true actions.

The Federation of Indian Chambers of Commerce and Industry will study trade facilitation and tariffs sector, while the Federation of Chambers of Commerce and Industry of Sri Lanka will examine the prospects of cooperation in the finance and monetary policies.

The Federation of Pakistan Chambers of Commerce and Industry will look into the potentials of a common stock exchange. Nepal's apex trade body has been entrusted with the research work in investment prospects in the region.

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