Japan announced to provide an additional $ 7 million for the Saarc-Japan Special Fund to promote exchanges among the young people and strengthen the bridge between Japan and the South Asian nations.

Japanese Foreign Minister Taro Aso made the announcement at the inaugural session of the summit at Vigyan Bhaban.

He said the Japanese government will cooperate more with Saarc to achieve a better regional connectivity and is keen on supporting the priority projects of the regional forum.

"I've made a pledge that throughout the transitions Japan shall always be the running mate," Taro Aso said in his statement, ,

EUROPEAN UNION
The European Union said it is ready to share expertise and experience in all areas of interests with the South Asian regional forum.

Benita Ferrero-Waldner, European commissioner for external relations, in her statement said the European Union, as it celebrates the 50th anniversary of its own integration process, sees itself as a natural partner in all its efforts aimed at reinforcing regional cooperation, people-to-people contacts and trade liberalisation in South Asia.

"We hope Saarc will be successful in developing regional cooperation and trade liberalisation," she said, adding that while majority of the economies is growing there remains many challenges in encouraging trade within the region.

"Our own experience shows the importance of this for sustained development and regional integration, and this is indeed one among a number of areas where we are happy to cooperate with the efforts that Saarc is making," Benita said.

CHINA
China put forward a five-point cooperation proposal for alleviating poverty, disaster management, human resource development and strengthening Saarc-China relations.

Chinese Foreign Minister (FM) Li Zhaoxing made the offer in a statement at the opening session of the 14th Saarc Summit. "The Chinese government supports the objectives and priority areas of Saarc. It respects the position of Saarc countries and the principles of equality, mutual trust and win-win cooperation," Zhaoxing said.

He said Beijing is ready for exchanges and expanding practical cooperation with the regional forum to contribute to its cooperation process and peace and development in South Asia.

China wants to establish a cooperation mechanism for poverty alleviation and carryout comparative studies on models of poverty alleviation through discussion, the Chinese foreign minister said.

China will invite the Saarc countries to attend multilateral training programmes and will consider hosting bilateral training programmes for the Saarc countries, he said.

The Chinese FM said his country is ready to intensify cooperation with the Saarc countries in infrastructure based on mutual benefit and encouraging Chinese enterprises to invest in the region.

He proposed institutionalisation of the China-South Asia Business Forum so it can serve as a platform for discussion on economic cooperation and trade.

SOUTH KOREA
The Republic of Korea (ROK) is ready to share its experience in ICT, government innovation, human resources development and other economic fields in South Asia for mutual benefit.

"South Asia today is demonstrating a renewed sense of vitality.... economic advance of Saarc countries and Korea has brought with it a growing mutual interdependence," ROK Foreign Affairs and Trade Minister Song Min-Soon told the inaugural session of the summit.

He said since 2000 the volume of Korean trade with Saarc countries has been increasing at an average rate of 22 percent per year and two-way trade reached $11 billion in 2006.

Korea's direct investment in Saarc countries has also been increasing at an average 23 percent per year.

The minister said there were 533 cases of Korea's direct investment in Saarc countries amounting to a total of $1.4 billion.

Min-Soon said the vestiges of the Cold War still linger on the Korean Peninsula. Korea has been exerting every effort to achieve lasting peace and stability in Korean Peninsula.

"With the continued support of the international community including Saarc member countries, I am confident that the process of resolving the North Korean nuclear issue will continue to move forward," he told the summit.