The Minister was speaking at the Fifth Meeting of the SAFTA Ministerial Council in Male' on Monday.
The Minister of Commerce & Industry, Anand Sharma Monday urged the member states of South Asian Association for Regional Cooperation (SAARC) to bring down all the protectionist trade barriers to achieve regional economies of scale at a much greater pace.
The Minister was speaking at the Fifth Meeting of the SAFTA Ministerial Council in Male on Monday.
Sharma also announced during his speech that India has earmarked USD 100 million each for its neighbouring countries to undertake developmental work in basic infrastructure projects.
Speaking at the Ministerial attended by Trade & Commerce ministers of Afghanistan, Bangladesh, Bhutan, Maldives and Sri Lanka, the minister thanked the Maldives Government for the gracious hospitality and expressed his happiness that all member countries have ratified the Accession to Agreement on SAFTA signed during the Colombo Summit in 2008.
Earlier on Sunday, after the call on the President Mohamed Nasheed, the Minister also met the Special Envoy of the Maldivian President and the Foreign Minister for informal discussions on bilateral economic cooperation.