Saarc summit rescheduled

Dhaka is going to put forward some new proposals to add substance to the functioning of Saarc as the promoter of regional trade and commerce. It is looking forward to revival of South Asian Development Fund as part of the plan to assess the potential of a South Asian Development Bank (SADB). India has endorsed the plan and might propose creation of a $10 billion fund for the SADB. Such initiatives should play a crucial role in boosting trade and commerce among the member countries.

The summit has assumed greater significance in view of the challenges that the region as a whole is now facing. For example, at least three member countries of Saarc were affected by the tsunami. But there was no concerted initiative or any kind of regional approach to some of the post-disaster imperatives. Representatives of the US and Japan governments visited the tsunami affected areas and the UN also organised a conference on the catastrophe that fostered solidarity among the nations to come in aid of the victims of the massive humanitarian crisis.

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There is definitely a lot that the countries can achieve together to reduce their vulnerability to natural calamities. To begin with, installation of a warning system against sea-floor earthquake that could trigger devastating tidal waves can be considered. It has to be linked to the worldwide seismic observation network for the benefit of all.

Saarc has to elevate itself to a platform designed and equipped to address regional issues having a great bearing on the lives of people.