English | Dzongkha Saturday, July 21, 2018

PM addresses SAARC Finance Ministers

Aug 25, 2010

Climate induced disasters are occurring with increased frequency and magnitude around the South Asian region. However, the South Asian Association for Regional Co-operation (SAARC) has yet to put in place a mechanism to facilitate co operation on ground during such natural disasters.

This was one of the messages the Prime Minister Lyonchhen Jigmi Y. Thinley had to convey to the SAARC Finance Ministers and the Secretaries during the 4th SAARC Finance Ministers’ meeting.

The Prime Minister said in the recent financial downturn, South Asia as compared to other regions, fared much better. However, Lyonchhen Jigmi Y. Thinley reminded that there was no room for complacency as new challenges continues to confront the region’s economy.

“We should remember that good economic indicators do not necessarily reflect the true quality of life. Statistics often hide the depth the extent of deprivation and suffering that many poor people must endure,” Lyonchhen said.

“Despite our booming economies and the emergence of a growing middle class, our sense of achievement must be tempered by the fact that the SAARC region continues to be among the poorest in the world.”

Reflecting upon the 16th SAARC Summit held in the country Lyonchhen remarked the Thimphu ‘Silver Jubilee Declaration and the Statement on Climate Change’ as two important outcomes of the Summit. The Prime Minister also extended the Government’s support and co-operation to SAARC Development Fund Secretariat.

He also expressed condolences on behalf of the government to the recent floods sweeping over Pakistan and India.

The Secretary General of SAARC Dr. Sheel Kant Sharma remarked the permanent establishment of the SAARC Development Fund as a milestone in the Association’s history.

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