He urged the South Asian Federation of Exchanges (SAFE) representatives to prepare a smooth road map for regional cooperation in the capital markets. He made the call while inaugurating the 5th annual general meeting and 8th theme conference of SAFE in Islamabad recently.

"The private sector, especially the stock markets, has a leading role to play in economic growth of a country," a press statement of Dhaka Stock Exchange said quoting him.

South Asian economy is performing well and it will be a hub of world trade and investment in the next ten years, the advisor noted.

The governments in this region are ready to extend all possible help to SAFE to achieve its goal and target, Shah said.

Dr Tariq Hasan, chairman of the Securities and Exchange Commission of Pakistan, said increased financial activities within South Asia will definitely give rise to a growth in the capital markets in the region.

More can be achieved in phases by enhancing cooperation among the regulators, harmonising regulatory frameworks and unifying cross border operations, he pointed out.

The first and foremost factor in determining the success of an integrated financial market is to see whether the regulators are geared to handle the new challenges and cross border jurisdictional business, Tariq added.

All the SAFE delegations met Pakistani Prime Minister Shaukat Aziz during the conference. Ahmad Rashid Lali, vice-president of Dhaka Stock Exchange, attended the AGM and theme conference.