SAARC summit concludes
6, 2004 -
leaders of the seven SAARC countries reached a landmark decision at the
closing session of the 12th SAARC summit today, adopting the
Additional Protocol to the SAARC Regional Convention on Suppression of
Terrorism and the Treaty Agreement on South Asia Free Trade Agreement (SAFTA).
The Additional Protocol hopes to make illegal the provision, collection or
acquisition of funds for terrorist activities and taking further measures to
prevent and suppress financing of such acts.
SAFTA will take direct measures to promote mutual trade of SAARC countries
such as long and medium-term contracts containing import of supply
commitments in respect of specific products, buy-back arrangements, state
trading operations and government and public procurement.
The Foreign Ministers of seven SAARC countries signed the agreement
documents in the presence of their Heads of State and Government. Sri Lankan
Foreign Minister Tyronne Fernando signed the agreements for Sri Lanka.
Delivering the concluding address, Pakistan Prime Minister Zafarullah Khan
Jamali said signing the treaty agreement for SAFTA was a historic milestone
achieved by the 12th SAARC summit, for it would develop the mutual trade and
economic cooperation among the countries.
The Islamabad Declaration was unanimously adopted by the seven leaders. The
Pakistan Prime Minister declared the 12th SAARC Summit closed.
Bangladesh will host the 13th SAARC summit in 2005
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Date: January 06, 2004 -4.30