CPEC to connect SAARC region with CAR region

CPEC to connect SAARC region with CAR region

ISLAMABAD: (APP) Minister for Finance, Senator Muhammad Ishaq Dar on Tuesday said that the development of China Pakistan Economic Corridor (CPEC) would play an important role in connecting SAARC with Central Asian Region.

He was addressing the 10th informal meeting of SAARC Finance Ministers on the sidelines of the Asian Development Bank's annual board of governors meeting in Frankfurt, Germany.

He suggested that various new financial cooperation modes like economic and infrastructure projects through South Asian Association for Regional Cooperation (SAARC) Development Fund needed to be initiated, in collaboration with other development partners to establish an economic corridor connecting the South Asian economies.

According to a message received here, the finance minister reiterated Pakistan's support to the idea of promoting regional connectivity across the SAARC region by strengthening cooperation in the areas of transportation, investment and trade.

He stressed the need for greater and meaningful cooperation among member states and offered to host the next meeting of SAARC Finance Ministers between 15th of July and end August, 2016.

The Minister appreciated the role of Asian Development Bank (ADB) and its commitment to homogeneous economic development across the sub regions of Asia.

He emphasized the need of transformation of South Asia Transport Corridor by focusing on enhanced transport network, trade liberalization and building nodes and gate ways to link the SAARC region.