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Regular-article-logo Saturday, 11 May 2024

SINGLE CURRENCY FOR SAARC PROPOSED 

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FROM FARID HOSSAIN Dhaka Published 09.03.99, 12:00 AM
Dhaka, March 9 :     Commerce minister Ramakrishna Hegde today raised the vision of an Euro-type single currency for Saarc countries but the looming hurdles on the road to a common economic destiny suggests just how difficult it will be to achieve that goal. ?The Saarc countries can have a common currency in future,? Hegde said while launching the second Indian Trade Fair in the Bangla capital. The minister said the seven Saarc nations?India, Bangladesh, Pakistan, Sri Lanka, Nepal, Bhutan and the Maldives?had many things in common and could therefore work together as a joint family.? ?We can also take a stand on issues that benefits all member countries of Saarc,? he added. However, the poor progress in regional cooperation indicates that Hegde?s optimism is premature at best, and a far cry at worst. Even though Saarc was launched 14 years ago, it has achieved little economic cooperation. The flow of goods and services among member countries comprises only four per cent of their global trade.    
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