Introduction of a common currency on the lines of the European Union's Euro for SAARC countries

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News New Delhi - 24th October 2009



UNESCO Goodwill Ambassador Madanjeet Singh and Mme France Marquet, SAF Trustee called on Dr. Manmonhan Singh, Prime Minister of India in New Delhi. Apart from informing him briefly about SAF activities in Maldives and Sri Lanka, Madanjeet Singh mentioned about the press statement he had issued at Amritsar on 18 October in which he called for the introduction of a common currency on the lines of the European Union’s Euro for SAARC countries. He said that President Mohamed Nasheed of Maldives is very keen on a common currency as Sri Lankan President Mahinda Rajpakse had already proposed at the last SAARC Summit.

The UNESCO Goodwill Ambassador emphasized: “It is high time that SAARC countries see the global writing on the wall as the ASEAN, the Gulf countries, Latin American and African nations are all working at present to establish common currencies in their respective regions”.

Prime Minister Manmohan Singh seem to agree but cautioned that “a SAARC common currency would be feasible only after trade and commerce between the SAARC countries is increased by setting up of a free trade zone in the region”.