Nepal for activating SAARC economic mechanism

Kathmandu: Nepal has stressed on the need to activate the South Asian Association for Regional Cooperation (SAARC) economic mechanism to revitalize the economy of SAARC member countries seriously hit by COVID-19. This proposal was made at the 15th Informal Meeting of SAARC Finance Ministers held virtually today.

The meeting deliberated on the theme of ‘COVID-19 and South Asian Economies’, where Nepal underlined the need for activating the formal mechanisms under SAARC. Nepal also pointed out the need of increased mutual cooperation and partnership to minimize the impact of COVID-19.

Representing Nepal, Minister for Foreign Affairs Pradeep Kumar Gyawali, said resource mobilization, collaboration and partnership among the member states could help protect the health and life of people in the region. Minister Gyawali had chaired the meeting.

SAARC Secretary-General Esala Weerakoon said the SAARC Secretariat was committed to coordinating among the member states for recovery of the South Asian economy.