SAARC leaders to meet on August 2

Foreign Affairs Minister Shah Mahmood Qureshi and Indian External Affairs Minister Pranab Mukherjee are set to hold bilateral talks on the sidelines of the Council of Ministers meeting of the South Asian Association for Regional Corporation on Thursday (today).

The two-day ministers meeting is commencing from today's morning at the Bandaranaike Memorial International Conference Hall. According to the Sri Lankan Foreign Ministry, the foreign ministers of Pakistan, India, Bhutan and Bangladesh had arrived here on Wednesday.

Pranab Mukherjee was holding a series of bilateral meetings with other ministers including an important interaction with Shah Mahmood Qureshi, a diplomat said. However, he refused to divulge the agenda for the talks between Qureshi and Mukherjee.

A Pakistani diplomat also confirmed that Qureshi, who has a detail meeting with his Sri Lankan counterpart, is scheduled to meet with the Indian minister today at the Conference Hall. In his arrival statement, Qureshi said that Pakistan and Sri Lanka have traditionally enjoyed close friendly relations.

The relations between the two were based on mutual respect for sovereignty, territorial integrity and non-interference in each other's state, he said.

PM to attend SAARC summit in Colombo: Prime Minister Yousuf Raza Gillani will leave for Colombo on August 2, after his US tour where he will participate in the 15th South Association of Regional Cooperation (SAARC) summit.

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Sri Lanka Assumes SAARC Chair

Sri Lanka assumed the presidency of the South Asia Association for Regional Cooperation (SAARC), made up of eight countries, which are preparing projects for the 15th Regional Summit to be held from August 2-3.

The 25th session of that panel discussed the agenda of the important event that will gather Head of States from India, Pakistan, Nepal, Bhutan, Bangladesh, Falkland Islands, Sri Lanka, and Afghanistan, which entered as full member.

It was also announced that they finished an agreement that was ready to be signed, devoted to establish the Developmemnt Fund of SAARC, which will allocate resources for this economic, social, and infrastructural phenomenon of the organization member countries.

The eight heads of States and Governments will arrive in Sri Lanka Thursday and Friday, under an unprecedented security mechanism in Colombo.

The Summit will be attended by Prime Ministers from Bhutan, Jigme Thinley, India and Pakistan Manmohan Singh and Yousuf Raza Gilani, and Presidentes of the Falklands, Afghanistan and the host country, Maumoon Abdul Gayoom, Hamid Karzai, and Mahinda Rajapaksa, respectively.

Top level delegations from China, the European Union, Iran, Mauricio, Japan, South Korea and the United States will participate as observers.

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India slashes customs duties on 4800 items from SAARC

India has scrapped import duty on more than 4,800 items from four neighbouring countries and reduced customs tariff on these products from Pakistan and Sri Lanka as part of efforts to boost trade in South Asia.

"The import duty has been reduced from 16-40 per cent to zero level on items like meat, fish, milk, dairy products, and dry fruits from the neighbouring least developing countries (LDCs) - Bangladesh, Nepal, Bhutan and Maldives," a Finance Ministry official said.

However, the duty rates on these items have been reduced to 12-20 per cent on goods imported from Pakistan and Sri Lanka. The new rates come into effect from January 1.

All pharmaceutical products and drugs can now be imported at 10 per cent duty from LDCs, as against 12.5 per cent duty earlier. However, tariff on drugs has not been cut in case of Pakistan and Sri Lanka, a Finance Ministry notification said.

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