SAARC countries sign energy agreement

Member nations of the South Asian Association for Regional Cooperation (SAARC) have signed an agreement on collaborating in the field of energy production.

The agreement was signed yesterday, towards the closing of the Summit of SAARC leaders in Katmandu, Nepal.

Under the agreement, signatories are bound to cooperate and assist each other in production and distribution of energy. Also, signatories would share technology and information on production of energy, according to the Maldivian Ministry of Foreign Affairs.

The purpose of yesterday’s agreement has been given as “encouraging cross-border trade and development of energy industry”.

Dunya Maumoon, the Minister of Foreign Affairs, signed the agreement on behalf of the Maldivian government.

The 18th Summit of SAARC leaders was closed with the passage of a new declaration on the development of free trade in the region as well. The declaration was named “Dipaa Integration for Peace and Prosperity”.