South Asia emerging as global economic power

He urged South Asian leaders for taking concrete steps to push forward the regional forum.

"We must combine our strengths to face the common challenges before our nations to realise the potential of the region," Morshed said.

The basic purpose of Saarc is to improve the standards of living of the people of the region, he said, adding that the Dhaka summit proclaimed 2006-2015 as the Saarc decade for poverty alleviation.

The seminar on '13th Saarc summit and future outlook' was organised by Bangladesh Institute of International and Strategic Studies (BIISS) at its auditorium in the city.

Addressing as chief guest, the foreign minister said during Bangladesh's chairmanship of Saarc, poverty alleviation will remain high on the national as well as regional agenda.

"I believe one important aspects of Dhaka summit has been the clear commitment made by the South Asian leadership towards collective efforts for building the future of South Asia," he added.

Morshed said South Asia has been emerging as a global economic power as it has been enjoying sustainable growth and macro-economic stability for over a decade.

He said the Saarc secretariat is going through massive reforms for strengthening its capability.

He hoped that Bhutan would be able to host a Saarc summit in future as it developed accommodation facilities in last couple of years.

Reaz Rahman, advisor to the foreign ministry, and Dr Mahbubullah presented two keynote papers on the topics.

In his paper, Reaz presented various progress Saarc made so far in the line of regional co-operation.

He said Dhaka summit adopted a provision to increase people to people contact among the member countries.

Besides, there is a council of commerce ministers to negotiate trade-related issues among the member countries under the Safta, he pointed out.

Responding to a query, Reaz said there is no UN provision on terrorism in any particular country.

Dr Mahbubullah in his paper on economic and trade aspects of Safta suggested creation of trade blocs which would increase real investment and expand overall production of the partner countries.

He observed that a trade bloc attracts more FDI into member countries.

"Global firms often bring better technologies, management practices and marketing capabilities," Mahbubullah pointed out.

Ambassador Mufleh R Osmany said Saarc has come of age, and its 13th summit has enkindled hopes that there might be a visible transition from rhetoric to realities in the coming months.

He said partnership with China and Japan will surely enrich and enhance the credibility of Saarc which will go a long way to make it more global in its outlook.

Taking part in the discussion, Chinese Ambassador in Dhaka Chai Xi expressed gratitude for giving observer status to his country in Saarc.

"Now we are waiting for framing the terms and conditions for the observer status," he added.