Foreign capital must for economic survival of SAARC countries

In the era of globalization the economic survival of developing countries, especially of the SAARC nations, depends on their ability to compete, create attraction for foreign capital, enlarge markets and pool their resources. President SAARC Chamber of Commerce and Industry,Tariq Sayeed said while inaugurating the first ever ‘Chambers Competition Awards 2008’ organised by the Federation of Chamber and Commerce and Industry, Sri Lanka (FCCISL) in Colombo on Friday, according to a message received here.
“Ultimately it will be the collective,creative and enterpreneural energy of the South Asia that will enable it to compete and emerge as a dynamic partner of the global economy”.
He stressed the urgent need for the adoption of following measures to strengthen and boost the economy among SAARC countries:
Formation of the strategic planning,defining the role and objective compatible to the requirements of business community,building repute as a centre of quality information, improvement of role and advisory units for government on economic issues, refurbishing secretariat on modern lines,provision of training for augmenting capacity building of the employees, developing effective relationship with government agencies and promotion of public-private partnership.
He said he was confident that the adoption of such measures will not only designate chambers as true representatives of the business community of the country but also elevate the image of the institution.
Tariq Sayeed said that “FCCISL Chambers Awards 2008” will add a new chapter in the history of the FCCISL and create a “healthy environment” amongst the chambers at regional and national level.”This would go a long way in building the image of chambers as partners of economic development in a country”.
He said launching of this award was inspired by winning the world chamber award at the world chambers federation and congratulated FCCISL for this milestone. “This is not only a pride for the institution but also an honour for the region of South Asia”.
Tariq Sayeed said that conferring awards to regional chambers is a prestigious approach to acknowledge the most acclaimed projects undertaken by these chambers. Later,he gave away awards to winners.
VP SAARC Chamber of Commerce and Industry,Pakistan chapter and deputy leader of Pak Traders delegation Iftikhar Ali Malik also graced the occasion.
Nawaz Rajabdin,President FCCISL and Vice President SAARC,Sri Lanka chapter, speaking on the occasion, thanked Tariq Sayeed for inaugurating the mega event.
He said that services of Tariq Sayeed to bridge the gap between business community and promotion of commercial activities in the region were commendable. He said these awards will serve as a stimulator to uplift the chamber movement in the country.
It may be mentioned here that Tariq Sayeed is the first Pakistani invited by FCCISL to inaugurate the prestigious ceremony of Chambers Competition Awards 2008.