The estimate could be met if trade competitiveness among Saarc nations are turned into "trade complimentaries" for which political will of all countries was essential, President of Associated Chambers of Commerce Anil K Agarwal said in a release.

He suggested trade complimentaries could be created by setting up joint ventures in Saarc (South Asian Association for Regional Co-operation) in which the interest of each partner should be equally protected.

In addition, he said, the rules of origin be framed, which are neither stringent nor cumbersome to ensure smoother movements of goods from one country to another.

The chamber said intra-regional trade among Saarc nations as percentage of their total trade with world increased only to 2.46 percent in 2002 from 2.36 percent in 1990.

India's share with Saarc countries of its total trade with the world rose to 3.32 percent in 2003-04 from 1.50 percent in 1990-91. Exports and imports grew by 16.46 and 11.12 percent respectively from 1990-91 to 2003-04, the chamber said.

India's trade with Saarc countries was concentrated around a few items, Assocham said, adding that the share of top five items in exports to Saarc nations is around 48.5 percent.

The share of five main items in India's exports includes cotton yarn fabrics (21 percent), transport equipment (10 percent), rice (9 percent), machinery and instruments (6 percent), drugs and fine chemicals (5 percent).

The share of top five items in India's imports from Saarc

countries is around 53 percent, while the same for Bangladesh

is 73.8 percent and Pakistan is 71.2 percent.