RECORDER REPORT

LAHORE: The SAARC Chamber of Commerce and Industry’s headquarters building following its completion will be used as a launching pad for optimal utilization of the region’s natural resources.

According to a spokesman, President SAARC Chamber Ruwan Edirisinghe stated this on Tuesday while presiding over a meeting in the federal capital.

The building can also be used for regional infrastructure, creating connectivity within the region and the world with energy grids, cross-border transport networks, coastal shipping, air links, roads, railways and waterways, besides flood and other natural disaster mitigation and prevention measures, spokesman said.

It can implement trade facilitation measures, thereby lowering transaction costs and generating greater regional investment and employment, he said.

A state-of-the-art 10-storey building of chamber headquarters costing over rupees one billion which is in final stage of completion will be a symbol of unity, peace, beacon of prosperity, progress, an effective catalyst for SAARC’s rescue and resuscitation besides inculcating the spirit of trust with its neighbours, showing solidarity, and forging with them a perpetual co-operation.

It will also provide a platform to communities of the region for coming together and discussing the prospects of doing business together.

He said it is the top priority of the SAARC chamber agenda that all due efforts would be initiated to forge good relations with all SAARC member states and for this we have to commit to and accelerate our efforts towards forging closer bilateral and regional partnerships and economic integration within the subcontinent and beyond.

He is much sanguine about the future of the SAARC chamber and said we will have to underwrite the creation of regional public goods for South Asians to integrate sitting here from chamber permanent headquarters.

Despite this, he said, SAARC region holds immense trade and investment potential and to actualize that potential special focus and effort is required for regional integration.

He said SAARC member countries should focus on removal of non-tariff barriers (NTBs) and must work for enhancing B2B interaction to boost trade.

Earlier, Chairman Building Committee Iftikhar Ali Malik apprising the participants of the progress said that 95 percent structure of the building has been completed under the supervision of high-profile internationally accredited architects and designers.

He said the government of Pakistan and magnates have contributed 80 per cent of the total of the cost of the project.

He hoped it will be completed before the end of current calendar.