E-Kantipur

KATHMANDU, SEP 22 -

With economic integration in South Asia yet to happen to the extent desired, ministers and political leaders from the region have stressed the need for genuine political will and mutual cooperation for greater regional economic integration.

Addressing the session on generating political will for regional integration at the Saarc Business Leader Conclave, Defence Minister Sarat Singh Bhandari called for coordinated efforts of all South Asian countries for regional integration. “The platform of Saarc has been ceremonial till date, being unable to make significant inroads into regional integration,” said Bhandari.

Bangladeshi Minister of Environment and Forest Hasan Mahmud said that climate change, energy crisis and food security could not be addressed by the countries individually and mutual cooperation was necessary.

“The per capita carbon emission of the region is very low compared to the developed economies, and we should not be blamed for global warming,” he added. “However, due to ecological realities, the region is most vulnerable to climate change, and it can be addressed by regional integration only.”

Referring to the high demand and low supply of electricity in the region, Mahmud said that Nepal could be a net exporter of electricity and help ease the energy crisis in the region.

Mahmud requested the business fraternity of the region to invest in hydropower in Nepal.

Pakistan’s former finance minister Sartaj Aziz urged all the countries in the region to come together to adopt a coherent food security strategy. “The next Saarc summit should call upon all member countries to adopt the highest level of food security strategy by 2012,” said Aziz, “Subsequently, an integrated strategy can be formed for the entire region.” 

During the technical working session on water, energy, climate change and food security, speakers pointed out the importance of development of clean energy to address both climate change and the energy crisis. Raghuveer Y Sharma, principal investment officer at International Finance Corporation, said that a huge deficit and massive demand for energy can be the driving factor for investment in hydropower.

“No other country in the region except India and Bhutan have made rapid efforts in raising hydropower production,” said Sharma, “Nepal has much more hydropower potential than the popularly stated 83,000 MW, and it should make an effort to explore it and be a net exporter within a decade.”

Posted on: 2011-09-22 09:22

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