President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Md. Jashim Uddin took charge as the president of the SAARC Chamber of Commerce and Industry (SCCI), the apex trade body of the South Asian region, at the Hotel Intercontinental in Dhaka on Thursday, reports UNB.
He will be serving as the SAARC Chamber president for the term of 2023-24.
The new president said that South Asia with its diversified resources and skilled workforce had tremendous potential to be the fastest-growing exporting region in the world.
"As we begin this new tenure, our region is experiencing rapid economic growth, but we must also confront a range of complex issues and barriers to trade that limits cross-border regional trade," he said.
The Intra-trade among SAARC countries continues to be low ranging between 5-7% of total trade. In addition, this is declining every year, he said.
"On the other hand, we are seeing increased integration in other regional blocks. Intra-regional trade is over 40% in NAFTA, 68% in EU, 27% in ASEAN. Their economic integration is directly tied to their GDP per capita, higher productivity and, lower poverty and unemployment," he added.
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