The 6th SAARC Business Leaders Conclave (SBLC) was organized by SAARC Chamber of Commerce & Industry (SAARC CCI) in collaboration with Federation of Nepalese Chambers of Commerce & Industry (FNCCI) and Government of Nepal, in partnership with Friedrich Naumann Foundation (FNF) and World Bank, on March 16-18, 2018, at Kathmandu, Nepal.

The 6th SBLC was organized under a theme “Unleashing Shared Prosperity through Economic Integration” and was aimed at deliberating upon the key issues of regional economic integration, energy, digital economy, agriculture, trade and investment, and empowering youth and women in the South Asian economies.

President SAARC CCI, Mr. Suraj Vaidya in his welcome address said that we are living in the era of great transition and change, last few years have not been good for globalization and regional integration. Even in SAARC region, conflicts and turbulence seem to be persisting but SAARC, during its relatively short existence, withstood a difficult path seeking ways to think through inter-regional and bilateral tensions. Highlighting the importance of business leader conclave Mr. Vaidya said “today, our presence at the conclave is a proof of commitment of all member states of SAARC to make SAARC a living and a dynamic force despite the challenges we are called upon to face from time to time”.

Mr. Vaidya also said that the SAARC region has immense opportunities to be unleashed. The SAARC Business Leaders’ Conclave is a flagship event of SAARC and has emerged with immense importance not merely for business community but also for governments and larger society to allow exchange of views. The conclave deals on issues that directly affect the lives of the people.

Mr. Vaidya shared that the next two days are extremely important because of participation of senior leaders, bureaucrats, experts and business people who would be expressing their views and opinions. Talking about his tenure as a President of SAARC CCI, Mr. Vaidya commented that during such turbulent times we continued with our efforts to mitigate the confrontation and facilitate cooperation between the eight member nations of SAARC. “We convened meetings or events in each of the SAARC countries every quarter. Some of the highlights in the two years; from ground zero we have invested and neared completion of our headquarters in Islamabad at the cost of $10.2 million” Mr. Vaidya said.

We are able to open two regional office in Mumbai and Colombo that are all predominant business centers in the region he shared. Continued with his special address, Mr. Vaidya emphasized the region has many problems but problems can be resolved only when we start speaking, there is need to find platforms for the business people to meet and media to exchange views, and artists to meet together and the people of South Asia to talk, speak and appreciate and by bringing our nations closer in terms of economic engagement and by creating economic stake in each other’s progress we can promote overall welfare of our people.

Highlighting the importance of regional connectivity, Mr. Vaidya shared that “The biggest problem in South Asia is impediments to do business and the policies that hinder business. At SAARC Chamber of Commerce we made ‘Free Movement of People’ our top priority in the region. We have experienced tremendous amount of problems when people can’t move, trade becomes an impossibility and investment stagnates. To make it easier for business people to move around the region, SAARC Chamber has taken the mantle of leadership on the behalf of private sector. We made presentations to immigration officers of Governments to make the movement of people in general and businessmen in particular easier in the region”.

On the occasion, Mrs. Bhawani Rana, President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) shared “South Asian countries have tremendous potential which needs to be tapped and move forward with a shared vision to achieve inclusive growth of the region. South Asia is being considered as one of the fastest growing regions of the world with it population of more than 1.7 billion people”.

Mrs. Rana said that “It is high time now that the countries in this region need to shift from consumption to investment led economic development. The SAARC countries are endowed with both natural and human resources. We need collective efforts to convert our resources into wealth. Shared prosperity must be our common objective and strategic goal.

Concluding her speech she applauded Mr. Suraj Vaidya, President of SAARC CCI and his entire team for their tireless efforts and dynamic leadership and taking SAARC CCI to newer heights and we all look forward to this SAARC CCI leadership helping to materialize SAARC economic integration, she added.

Addressing the conclave, Regional Director FNF, Dr. Ronald Meinardus acknowledged the vision of SAARC CCI. He said that from the very beginning, the SAARC Chamber of Commerce and Industry has been the privileged and most important regional partner of the Friedrich Naumann Foundation for Freedom (FNF). He also shared that “we support the aspirations and the vision of SAARC Chamber and the many businessmen and businesswomen of South Asia. He emphasized that economic freedom and cooperation across borders hold the key to development and peace. This is a perspective that the organizers of this great event have so eloquently put into the catch phrase Unleashing shared prosperity through economic integration” Mr. Meinardus also highlighted that the challenges lie within the nation states themselves and much remains to be done for the SAARC member countries to reform their economies and open up to international trade and competition. Concluding his special address at inaugural ceremony of 6th SBLC he wished and hope that this conclave would be fruitful in promoting economic cooperation among SAARC nations.

Addressing the inaugural session H.E. Amjad B. Sial, Secretary General, SAARC said that the participation of distinguished personalities in the conclave reflects the importance given to the promotion of economic relations among the member states of SAARC. The convening of this conclave is important for SAARC for two good reasons, first it brings together the prominent business leaders to discuss the role the private sector in the process of regional economic integration and secondly the theme of the conclave reflects the 18th SAARC Summit declaration where the leaders renewed their commitment to achieve the South Asia economic union.

He mentioned that “Promoting regional economic integration is a priority of SAARC and in realizing this objective, we are making constant efforts in bringing down tariffs, we’re also in the process of operationalizing SAARC Agreement on Trade and Services. He said that connectivity is the top most priority of the SAARC today, improved connectivity and enhanced economic relations will not only push trade but also promote tourism and people to people contacts. Talking about regional energy cooperation, His Excellency, Mr. Sial commented that SAARC is actively pursuing the goal of regional integration in Energy. “In order to turn up a SAARC market for electricity, the SAARC Framework Agreement for energy cooperation has been signed and its certification process is under way”.

He said that “Public Private Partnership remains a crucial cornerstone for promoting regional economic integration and for connectivity. SAARC CCI can play a vital role in this regard”. Hon’ble Minister Matrika Prasad Yadav Ministry of Industry, Commerce and Supplies said that the theme of the business conclave is very timely and contextual as the whole of South Asia is aiming at equitable benefits, and that is attainable in a short span of time when regional integration of SAARC nation becomes a reality. He said that it is a bitter truth that despite our sincere efforts and commitment South Asia is still falling behind. However we need to utilize SAARC as a regional instrument to materialize the noble objectives of economic integration through economic integration.

Mr. Parasad shared. He further said that the borders should not be only restricted for the flow of goods and people but open to investment in infrastructure development, technology transfer and new opportunities for younger generation. This will become faster when our region gets well integrated, he added. In his Presidential address Hon’ble KP Sharma Oli, Prime Minister of Nepal extended his best wishes for the grand success of 6th SBLC, “It is very appropriate and timely that private sector and the business community of South Asia are gathered here in this Conclave to start a new drive for economic integration. We are extremely positive towards the slogans such as investment for creating job opportunities and investment for production”.

While addressing the august gathering, he said the conclusions drawn from this three day business conclave shall produce something that will guide the governments of SAARC region. He believed that the conclusions will be very valuable to go ahead to meet our aspirations of development and prosperity and wished that, the 6th conclave will be a conclave of success” he added.

Mr. OM Bahadur Rajbhandary, Vice President, SAARC CCI (Nepal Chapter) extended vote of thanks at the end of the inaugural session. He said that the 6th SBLC is culmination of the efforts of SAARC Chamber and its Secretariat, its constituent Federations and National Chambers. He said that “No one can deny that the South Asia has unlimited potential, the phenomenal economic transformation that is happening throughout most of our region in the recent past, vindicates that SAARC CCI stand that South Asians are the most enterprising people, capable to find solutions to any problem”.