The two-day South Asian Association for Regional Corporation (SAARC) Finance Ministers’ Conference will begin in the federal capital from August 25.
The Ministry of Finance sources have said that the government has sent invitation letters to the finance ministers of the SAARC member state.
Finance ministers from Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka are likely to attend the conference.
The official sources said that on August 25, the SAARC finance secretaries’ meeting will be held prior to the conference of the finance ministers.
They added that the agenda of the conference will be regional cooperation in financial and economic sectors among the member states.
“The South Asia Free Trade Agreement (SAFTA) and SAARC financial and banking system and investment opportunities in the region will also be discussed for the socio economic prosperity in the region besides discussing ways and means for the uplift of the people of the member states,” the sources added.
They further said that the conference will also discuss and devise a mechanism for promotion of regional trade.
SAARC Development Fund (SDC) operations will be made more effective for the development of the region.
They said that the SDC was established in 2010 with a total capital of $1.5 billion while its paid up capital is about US $300 million.
They added that the SAARC finance ministers, after the conclusion of the meeting, will also attend the SDC Council meeting jointly.
The official sources added that the Ministry of Finance has made all the necessary arrangements for holding the conference.