Following is the text
of “Summary of the Joint Ministerial Statement” delivered by the Union
Minister of Finance of India Shri Arun Jaitley, who chaired the South
Asia Subregional Economic Cooperation (SASEC) Finance Ministers’ meeting
“In the Joint Ministerial Statement (JMS), we recall the SASEC Program’s
journey, from its establishment in 2001 to the present. Now comprising
seven members, we welcome Myanmar as the newest member, to play a key
role in linking South Asia with Southeast and East Asia.
We recall the gains of the program - in terms of improved transport
connectivity, better trade facilitation, and enhanced electricity trade
and energy security. The recently adopted SASEC Operational Plan,
2016-2025, further sharpens the strategies and priorities in these areas
and for economic corridor development.
Our collective Vision is for SASEC to power Asia in the 21st Century,
sustaining growth that synergizes the subregion’s natural resources,
industry and infrastructure potentials through enhanced cooperation.
This can possibly generate incremental $70 billion GDP and 20 million
employment annually by 2025.
We direct the SASEC Nodal Officials to develop a Road Map to implement
the Vision in a participatory and consultative manner. We note recent
hard and soft initiatives in support of the Vision, the pursuit of which
will be a means to achieve our Sustainable Development Goals - spreading
the benefits of growth and delivering better social services to remote
and poor communities. Our unwavering commitment to SASEC cooperation
will help us realize our Vision of powering Asia in the 21st century.
We recognize the important role of the Asian Development Bank in
supporting SASEC, and look forward to strengthening this partnership, as
well as improving our engagement with other regional programs such as
BIMSTEC, ASEAN and SAARC.
On behalf of the Finance Ministers and Heads of Delegations present here
today, I hereby declare the Joint Ministerial Statement earlier
considered, as formally adopted by this Meeting of the Honorable
Ministers of Finance of Bangladesh, Bhutan, India, Nepal and Sri Lanka,
and Heads of Delegations of Maldives and Myanmar, held here in New
Delhi, India, on this Monday, the 3rd of April 2017.”