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SAFA Conference 2016 www.icap.org.pk regional integration. He said that the 21st century is the age of integration and fast global change. "It is up to us, of becoming its victim." Ahsan Iqbal said that South Asia hosts one-fourth of the global and 40 percent of Asia's population and 40 percent of world's poverty. Similarly, he of India (ICAI) and Dr. Saman Kelegama, executive director Institute of Policy Studies of Sri Lanka. Venkateswarlu said against 25 percent of the ASEAN block (Association of South East Asian Nations). He asserted that South Asian that major barriers for intra-regional trade in South Asia were states would also have to remove trade barriers and poor supply capabilities and infrastructure, poor transport establish mutual trust to attain the goal of collective connectivity and trade facilitation led to high trade costs progress and prosperity. within the sub-region. He said South Asian exports lack diversity in terms of products and markets. The import substitution policies of South Asia worked toward limiting The minister said that China-Pakistan Economic Corridor (CPEC) projects are underway speedily and today Pakistan not just total trade but in some ways asymmetrically toward is poised for betterment, asserting that the CPEC is limiting intraregional trade. Dr. Kelegama said that services transforming Pak-China relations from geo-political to such as telecommunications, banking, energy, transport, geo-economic relation and creating vast opportunities in and software services are among the main drivers of Foreign every sector of economy. Pakistan is persuading China's Direct Investment (FDI) in the region. 'One Road-One Belt' project as the CPEC is one of the components of this mega project that would connect The concluding remarks of the session were made by Dr. South Asia with Central Asia and Europe. He said that Miftah Ismail, MOS/special assistance to prime minister/ regional integration of Pakistan and China under the CPEC chairman Board of Investment. He said that China- is creating much more opportunities for development Pakistan Economic Corridor (CPEC) and Turkmenistan- and prosperity, then one can easily perceive opportunities Afghanistan-Pakistan-India Pipeline (TAPI) project will be the game changer in the region and by 2017 we will be integration of the entire region. He said that since most of able to get rid of power shortages. He said that by 2025, the chartered accountants are working abroad, therefore, the country’s middle class population will have reached they are the ambassadors of Pakistan, adding that CAs 100 million people which will be a big market. Global process of Pakistan and the region. At the end of the session, the governor gave away a shield can produce 60000 MW energy and likewise, we are full to Ahsan Iqbal while the president ICAP presented shield of natural resources and have talented human resources to the governor as mementos to the Conference. The Conference covered all aspects of South Asian region The second technical session on Fiscal Administrative corridor of opportunities. The technical session on Trade Governance - The Way Forward included presentations and Investment - Opportunities and Challenges asha, MD Board of Institute for Policy Reforms included presentations by CA J. Venkateswarlu, central and Enrique Blanco Armas, senior economist World Bank. council member of the Institute of Chartered Accountants The World Bank economist in his address said that South 3