Economic Interdependence in SAARC
The Voice of Chandigarh News:
“For generations we have had brain drain because of which the regular and mundane problems like conflict have eaten SAARC up. They are not new. The world has faced and continues to face them in different times in different ways. However, there were thought leaders to snap nations out of it so that nations could progress”. Said Ms. Rachna Sharma.
The best example quoted by Ms. Rachna Sharma, founder of Phuro Innovations was the animosity between France and Germany. Amidst the backdrop of the cold war, two world wars and five recorded historic wars, who can imagine European Union without them today? Hence, we have to imagine SAARC as we have a more friendly and peaceful history than that. We have shared histories, languages and cultures. We have never been nor are enemies. We are just facing problems and unable to come out of that. She mentioned that’s why she has initiated this project through which she can document problems and present frameworks to solve them. Economic interdependence is one of the proven frameworks in all violent regions so far and there is no reason why it won’t work in SAARC. The next big thing for Phuro Innovations would be the annual event where she anticipates participation from leaders across the region SAARC.
Discussion
Debuted on November 20, 2021, as a series of year-long engagements/ innovative frameworks for solutions and research-oriented approach; on the subject of “Political Peace”. Phuro is engaged in to bringing together the thought leaders, politicians, entrepreneurs, and organizations; Phuro Innovations hosted its fourth virtual discussion titled “Economic Interdependence in SAARC” on 21 July 2022. Rachna Sharma mentioned that “when I talk about Peace, I specifically talk about positive peace, which is attitudes, institutions, and structures that create and sustain peaceful societies”.
The event hosted Mr. Ehsan A. Malik as guest speaker who is an Alumnus of Wharton and Harvard Kennedy School, the current Chief Executive Officer of Pakistan Business Council (PBC), a research-based business advocacy body composed of the leading businesses in Pakistan including the larger multinational companies from 13 countries. In a 24-year career with Unilever, Mr. Malik served as CEO of Unilever Sri Lanka, led the consolidation of Unilever’s regional businesses in Egypt, Lebanon, Jordan and Syria and spent several years in the head office in the UK. Mr. Malik is also a Member of the Board of Directors of Abbott Laboratories Pakistan Limited, National Foods Limited, Gul Ahmed Textiles Limited and Standard Chartered Bank Pakistan Limited.
The highlight from the discussion was that several good things will come out if SAARC gets active again e.g Saving on the cost of logistics would justify the continuity of trade. Mr. Malik mentioned that talks and conversations must continue to invigorate hope for peace. Stopping dialogues means losing hope. In regard to India and Pakistan, he said that both countries should build momentum towards openness and accommodation which ultimately will benefit all the regional countries. Anything that inhibits trade, must be looked into with new economic policies and security. The leadership of both nations need to understand the importance of trade, Leadership in India understands it better than Pakistan today. However, that’s were PBC’s role as an organization comes into play; the role is to make the very own leadership understand the positive benefits of inter-regional trade; even if the governments are not supportive of the idea right now.
Dr. Rohantha Authokorala also joined as a guest speaker, Dr. Athukorala has a double degree in marketing, MBA, Doctorate in Business Administration & Alumni of Harvard Kennedy School. He has served 3 Presidents of Sri Lanka during his tenure in the public sector and then went on to serve the United Nations (UNOPS) for 5 years where the ‘Best Project’ was won for Sri Lanka and in 2019 he was awarded Dr. A.P.J. Abdul Kalam “Pride of the Nation” award. He has served the country as Chairman and Board Director Sri Lanka Export Development Board when exports crossed $10 billion. Then as Chairman of Sri Lanka Tourism, he restructured the organization for the country to attract 1.8 million visitors whilst the cabinet appointed Dr Athukorala as the Commissioner General for the World Expo 2015. He then went to be the Chairman of the 30 billion rupee retail chain Lanka Sathosa where he turned around the organization. Dr Athukorala is currently the Regional President/ CEO of the Microsoft-owned Global Artificial Intelligence company Clootrack for Sri Lanka, Maldives and Pakistan.
The breakthrough in the discussion was about the Political Will. Dr Athukorala emphasized that conversations like these are important in facilitating political will and further actions. He mentioned that instead of giving Aid and opening all lines of credit for Sri Lanka, India should open and support exports and trade – and help Sri Lanka in building capacity through the supply chain and skill development. That would be idle at this stage as regional cooperation.
The devotees of Lord Rama love to Visit Sri Lanka, if there is some kind of facilitation that can happen in increasing tourism from India to Sri Lanka, we can save Sri Lanka economically. This would be advocacy not investment.
