Kathmandu, March 16

The SAARC Business Leaders’ Conclave 2018 has begun in the Capital from today with an objective to promote investment, innovation and entrepreneurship in the region by unleashing shared prosperity through economic integration.

The event has drawn business leaders of the SAARC member nations, high-level leaders and government officials, among other stakeholders, to identify the challenges facing the businesses in the region and the mitigating measures.

Inaugurating the three-day event, Prime Minister KP Sharma Oli said that South Asian countries have been facing common challenges in terms of development and that it is, thus, a high time for all the governments of the region to work together and mitigate developmental, business and economic challenges.

“South Asia is blessed with resources. However, many of resources in the region have remained untapped,” PM Oli said, adding that Nepal is keen to work together with all the governments of South Asia to make optimum use of available resources and make the region the most prosperous one.

The prime minister also said that the outcome of the discussions and deliberations at the SAARC Business Leaders’ Conclave will be useful for the governments in the region to take necessary decisions and policy reformation works to ensure business growth in South Asia.

Suraj Vaidya, president of SAARC Chamber of Commerce (SAARC-CCI) — the organiser of the event — said the business conclave primarily intends to unleash the untapped potential that South Asia has.

Informing that though almost 21 per cent of the world’s population reside in South Asia and more than half of the population in the region are active working population, Vaidya stressed on the need for collaborative efforts between the governments and private sector in the region to work for economic integration and prosperity.

“South Asia is full of youths, talents, resources, diversifications and many more. Why not make the best use of these available resources?” said Vaidya, adding that the event will be a platform to figure out the possible measures to make South Asia highly prosperous.

On the occasion, Bhawani Rana, president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) emphasised the need to enhance and strengthen connectivity among South Asian nations to promote regional trade and economy.