Terrorism & Global Financial meltdown: twin challenges before SAARC
today - President
"We need to re-double our efforts to combat this
menace individually and collectively. We cannot shy away from taking
firm and forceful action to combat terrorism, including
internationally..... The instability caused by [the global financial]
crisis can be considered quite similar to the threat caused by terrorism
to our societies and to our region. The effects of synchronised
slow-down in developed economies, can reach us sooner than later. And,
as the crisis deepens in the developed world, it is likely that
protectionist sentiments can spread and even take root." said President
Mahinda Rajapaksa addressing the SAARC Foreign Ministers Conference in
Colombo today.
President Rajapaksa said: "Our societies bear the
brunt of the evil force of terrorism. But, we cannot and should not
allow even a single citizen of South Asia to suffer as a result of the
brutal violence un-leashed by terrorists. Therefore, we need to
re-double our efforts to combat this menace individually and
collectively. We cannot shy away from taking firm and forceful action to
combat terrorism, including internationally. We, among other measures,
should uphold democracy, support each other's democracies and make it a
vehicle towards defeating terrorism."
On the global financial melt down, President Rajapaksa
said: "The depression in the commodity market is adversely affecting
most of us, even negating the gains resulting from the declining oil
prices. Trade flows, production lines and the service sector are
suffering from the domino effect of this crisis and there are looming
liquidity problems.
"Unless definite counter measures are taken, this
downward spiral has the potential to adversely affect our economies and
impact on the living standards of our people. While we in South Asia can
take comfort that economies of our countries are so far functioning
well, and financial sectors have been well-regulated and stable, we
cannot take for granted that we are fully insulated from the on-going
global economic crisis."
Here is the text of the President's Address:
Your Excellencies
Distinguished delegates
Ladies and Gentlemen
I am honoured to have this opportunity to speak at the
inauguration of the Thirty First Session of the SAARC Council of
Ministers commencing today following the Fifteenth SAARC Summit held in
Colombo last year.
The presence of Ministers from all SAARC Member States
and the Secretary General of SAARC on this occasion, provides us with an
invaluable opportunity to review the implementation of the content of
the 15th SAARC Summit Declaration and to discuss modalities for making
further progress including on matters of current concern.
Excellencies,
Regional Cooperation in South Asia has matured. Our
eight Member States of SAARC, as manifested at the last Summit, are
fully committed to work together and are conscious of our potential, but
we must stand together. We have agreed that it is time that we broad
base the activities of SAARC. Therefore the Colombo Declaration was
aptly titled "Partnership for Growth for Our People".
This partnership with our people must continue in such
a manner that we reach out to the people in the remotest villages of our
countries. There is untapped strength and vigour in the villages that
can become a catalytic force for greater regional cooperation. The
villages where most of our people live cannot be left behind as they
have a lot more to offer to national and regional development.
At the last Summit, we focused, among others, on
several key issues of importance for our region such as Energy,
Environment, Water Resources, Poverty Reduction, ICT Development,
Science and Technology, Tourism, Education, Women and Children, and most
importantly, terrorism.
We signed the Charter of the SAARC Development Fund
which is a landmark achievement to underpin our efforts towards regional
development. We emphasised the importance of SAFTA and trade
facilitation, as well as trade in services for greater integration of
our economies. We agreed on the imperative to make steady progress on
the implementation of the SAARC Social Charter to promote social
well-being of our people. In all these efforts, we have highlighted the
importance of connectivity at all levels, so that we can work as one
SAARC family.
Excellencies,
I thank you for your efforts in implementing the
content of the fifteenth Summit Declaration. And, I wish to place on
record my appreciation for the special efforts taken by all of you in
taking steps to accelerate the implementation of the Colombo Statement
on Food Security, including making the SAARC Food Bank a reality.
I am confident that as we meet at this mid-point of
Sri Lanka's chairmanship of our regional organisation, you will review
and re-evaluate as to how best we could implement our agreed programme
of action, in accordance with the ideals and objectives of SAARC. In
this regard, let me express my profound appreciation of the SAARC
Secretariat in Kathmandu and Secretary General, Dr. Sheel Kant Sharma
for co-ordinating the efforts of all our member States, with a view to
promoting greater cohesion and more meaningful regional initiatives.
Excellencies
We, in the region of South Asia, today face several
common challenges. Common challenges require collective responses.
Terrorism is such a challenge and it requires our immediate and united
attention due to the impact it has on all of us, in one way or another.
Our societies bear the brunt of the evil force of
terrorism. But, we cannot and should not allow even a single citizen of
South Asia to suffer as a result of the brutal violence un-leashed by
terrorists. Therefore, we need to re-double our efforts to combat this
menace individually and collectively. We cannot shy away from taking
firm and forceful action to combat terrorism, including internationally.
We, among other measures, should uphold democracy, support each other's
democracies and make it a vehicle towards defeating terrorism.
In this regard, I recognise that in the SAARC region,
and in multi-lateral fora like the United Nations, we have agreed on a
series of measures as to how to combat terrorism in line with accepted
universal values and standards. The time has come to re-dedicate
ourselves to fully implement such agreed measures. We must not hesitate
to go further towards taking innovative action in combating terrorism to
make our societies, our cities, and our villages safe for our people to
live in. Our rich cultures cannot be allowed to be riddled by the curse
of terrorism. I hope this ministerial meeting will be able to give
further direction on this important current issue for people in this
region.
Excellencies
Let me now address another common challenge to our
region and to the world. It has now become clear that the financial
melt-down that began in the sub-prime market in the US will have a
profound trickle-down effect in our economies as a result of our
increasing links with the global financial and economic system. Lack of
confidence in the global financial system is affecting financial and
non-financial institutions, both directly and indirectly. The depression
in the commodity market is adversely affecting most of us, even negating
the gains resulting from the declining oil prices. Trade flows,
production lines and the service sector are suffering from the domino
effect of this crisis and there are looming liquidity problems.
Unless definite counter measures are taken, this
downward spiral has the potential to adversely affect our economies and
impact on the living standards of our people. While we in South Asia can
take comfort that economies of our countries are so far functioning
well, and financial sectors have been well-regulated and stable, we
cannot take for granted that we are fully insulated from the on-going
global economic crisis.
In fact, the instability caused by this crisis can be
considered quite similar to the threat caused by terrorism to our
societies and to our region. The effects of synchronised slow-down in
developed economies, can reach us sooner than later. And, as the crisis
deepens in the developed world, it is likely that protectionist
sentiments can spread and even take root.
Therefore, it is imperative that we think regionally
as to how we could help each other. We need to strengthen the regional
economies and consolidate our bilateral trade and our financial systems,
so that as a region, we remain strong. Such an approach will not only
promote the economic well-being of our people, but will also help us to
bring about and sustain peace and stability in the region.
Therefore, at this point in time, we need to explore
how we could provide a stable economic environment for our people in the
face of this global challenge. For this purpose, I re-emphasise the
importance of regional initiatives. And in this regard, I am reminded of
the success in our adjacent region, East Asia, which during the East
Asian financial crisis, created a network of bilateral swap arrangements
and have now created a reserve fund to address liquidity problems in the
region.
We should look for global solutions as well. And for
this purpose, let our collective voice be heard at international
financial fora, seeking positive responses from multi-lateral agencies
and international financial institutions to support our efforts through
special proactive initiatives, such as stand still arrangements for at
least one year. Such arrangements could also be flexible enough so that
at the end of one year, these could be reviewed and extended if the
global financial crisis would still exist.
Our region, which is home to one fifth of the world
population richly deserves such consideration by the international and
multi-lateral financial institutions so that developmental initiatives
towards reducing poverty and improving quality of life of our people
will not have to be abruptly stopped.
Distinguished delegates
I hope you will discuss these two common challenges
and concerns during your important meeting and come up with suggestions
and ideas that not only we can adopt locally and regionally, but take
them forward internationally as well. The outcome of your efforts will
add value to your mandated tasks at the inter-sessional meeting of the
SAARC Council of Ministers. People in our region expect nothing less and
I am sure you will answer their call.
Excellencies,
SAARC is an organization with great potential. We need
to use this vehicle to collectively marshal latent forces in the region
for our progress which is after all our common goal. As a region that is
heir to several great civilizations that had led human social and
economic advancement in the past, taking collective action for the
greater good of our region is not beyond our reach. But, we have to
muster the necessary political will, which I am sure is within our
reach.
I wish all of you success in your deliberations and a
pleasant stay in Sri Lanka.
May the Noble Triple Gem Bless you all.
Thank you.
Courtesy : www.info.gov.lk
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