The South Asian Association for Regional Cooperation (SAARC) in its Kathmandu Declaration welcomed what it called was 'significant progress' in the connectivity and energy sectors among the member nations.
In a statement released by the association, the leaders of the SAARC nations reaffirmed that they were determined to deepen regional integration for peace and prosperity by promoting mutual trust, amity, understanding, cooperation and partnership amongst each other.
"The Heads of State or Government welcomed the significant progress towards finalization of the SAARC Motor Vehicles Agreement and SAARC Regional Railways Agreement and agreed to hold a meeting of the transport ministers within three months in order to finalize the agreements for approval. They renewed their commitment to substantially enhance regional connectivity in a seamless manner through building and upgrading roads, railways, waterways infrastructure, energy grids, communications and air links to ensure smooth cross-border flow of goods, services, capital, technology and people," the statement read.
"The leaders emphasized the need for linking South Asia with contiguous regions, including Central Asia, and beyond by all modes of connectivity and directed relevant authorities to initiate national, regional and sub regional measures and necessary arrangements," it added.
As far as energy is concerned, the statement said that the leaders of the SAARC nations welcomed the signing of the SAARC Framework Agreement for Energy Cooperation.
"The leaders directed the relevant SAARC bodies and mechanisms to identify regional and sub-regional projects in the area of power generation, transmission and power trade, including hydropower, natural gas, solar, wind and bio-fuel, and implement them with high priority with a view to meeting the increasing demand for power in the region. The Leaders welcomed the signing of the SAARC Framework Agreement for Energy Cooperation (Electricity)," the statement read.
The SAARC leaders also sought to accelerate free trade among member countries.
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"The leaders directed SAFTA Ministerial Council and SAFTA Committee of Experts to accelerate free trade in goods and services in the region putting into operation simplified and transparent rules of origin; implementation of trade facilitation measures; harmonization of standards relating to Technical Barriers to Trade (TBT) and sanitary and phyto-sanitary measures; harmonized, streamlined and simplified customs procedures; elimination of non-tariff and para-tariff barriers; and smooth and efficient transit and transport facilities. They also called for early operationalization of SATIS by finalizing the schedule of commitments," the statement read.
"The leaders called for timely and comprehensive reforms of the global economic and financial architecture to make it inclusive and responsive to the needs of least developed, land-locked, and small island developing states (SIDS). They reaffirmed that SIDS would require special attention in view of their unique circumstances and particular vulnerabilities in realization of sustainable development," it added.
The 18th SAARC Summit concluded with all participating leaders agreeing to a 36-point Kathmandu Declaration Letter.
The next SAARC Summit is scheduled to be held in Islamabad in 2016.