The Fourteenth SAARCFINANCE Governors’ Symposium began in Kathmandu today. Devoted to the theme, “Developing a Common Platform for Strengthening Digital Payment System in the SAARC Region”, the two-day Symposium was organized by Nepal Rastra Bank under the auspices of SAARCFINANCE.

 

The Symposium was attended by the Governors and Deputy Governors of the Central Banks of the Member States of SAARC.

 

The Hon. Finance Minister of Nepal graced the Inaugural Session of the Symposium. Addressing the Inaugural Session of the Symposium, the Minister underlined the need for strengthened collaboration among the monetary authorities of the Member States. H. E. Mr. Amjad Hussain B. Sial, Secretary General of the South Asian Association for Regional Cooperation (SAARC), also addressed the Inaugural Session of the Symposium. He said, “With a view to achieving the objectives of SAARC, our leaders have expressed their resolve to promote trade, economic and financial relations among the Member States. More recently, during the Eighteenth SAARC Summit in Kathmandu in November 2014, our leaders expressed their strong determination to deepen regional integration by intensifying cooperation, inter alia, in trade, investment and finance. More importantly, our leaders renewed their commitment to achieve South Asian Economic Union (SAEU) in a phased and planned manner through a Free Trade Area, a Customs Union, a Common Market, and a Common Economic and Monetary Union.”

 

In his Address, the Secretary General also touched upon measures initiated by SAARC in the progression towards the eventual goal of SAEU, including efforts underway to promote intra-regional trade, and improve intra-regional connectivity and infrastructure. SAARCFINANCE is a network of Governors of the Central Banks of the Member States of SAARC. Its primary objective is to share experiences on macroeconomic policy issues and promote collaboration among the monetary authorities in the region.

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Kathmandu, 27 June 2018