SAARC summit in Colombo Aug 2-3

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Hit by escalating global food prices and energy costs the South Asian Association for Regional Cooperation (SAARC) holds a summit on August 2-3 in Colombo with food security and energy self sufficiency high on agenda.

Heads of government of eight- member SAARC countries will attend the summit with a slogan "growing together". A foreign ministry official said the programming Committees will start their meetings from July 27.

The SAARC members had agreed to set up a food bank in April 2007 summit. The food bank, where member nations will contribute rice and wheat, is aimed at creating food security to face emergencies in the region.

So far, four members -- Bangladesh, Pakistan, India and Sri Lanka -- have ratified the declaration for establishment of the proposed SAARC Food Bank. The declaration is now awaiting ratification by other SAARC nations.

Sources said the SAARC Food Bank would start its operation with a food reserve of two million tonnes of rice and wheat.

"Beside the climate change and global price hike of fuel and food there will be wide range of discussion on food security issue at the summit," said the official. The SAARC leaders at the recently concluded FAO summit had also talked about setting up a regional food security fund.