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Samples in periodicals archive:
Proposed by India, the swap agreement would go into effect next year, the minister indicated, saying progress had been made toward forming a South Asian Economic Union, coordination on fiscal policies and joint monitoring of exchange rates.
This was stated by, he said, SAARC countries should wind up 2010 with a vow to make 2011 a year of SAARC Chamber making more effective and meaningful contribution to carry forward the SAFTA process as the important first step towards South Asian Economic Union, Huq said.
Indian Foreign Minister Yiswant Sinha described the creation of SAFTA as a prelude to a South Asian Economic Union and Indian Prime Minister Atal Behari Vajpayee, in his speech at the summit, called for the creation of a single currency in South Asia patterned after the euro.
The foreign ministers will also consider the broad vision presented by a group of eminent persons about the desirability of a South Asian economic union, Mahat said.