SAARC Countries Finalized Framework Agreement for Energy Cooperation
The SAARC Framework Agreement for Energy Cooperation (Electricity) has been finalized during the recently held 5th SAARC Energy Ministers meeting on 16th-17th October 2014 in New Delhi . This is a crucial step towards developing a SAARC Market for Electricity (SAME) on a regional basis and strengthening the energy cooperation among the member countries of the organization.
The meeting approved the 8 reports of earlier meetings of the Working Group on Energy, separate Expert Groups on Electricity, Technology and Knowledge Sharing, Renewable Energy and the reports of the Inter-governmental Meetings on “Study on South Asian Regional Power Exchange”, organized by ADB.
The Indian side presented two Concept Reports namely, “Framework for planning cross-border transmission links and associated system strengthening through joint system studies” and “Operation of stable and secure SAARC Electricity grids”. Bangladesh has also prepared the Concept Paper on “Structures, functions and institutional mechanisms for SAARC regulatory issues on electricity exchange/trade” and the same would be circulated among Member States, shortly. Member States will offer their views/comments on the Concept Papers by 31 December 2014.
At the time of the concluding the meeting, the Ministers have given the assurance to get the Framework Agreement approved from their respective Governments so that it could be signed during the forthcoming SAARC Summit scheduled to be held in November, 2014 in Kathmandu, Nepal.
Background:
The South Asian Association for Regional Cooperation (SAARC) was established in 1985, with its Secretariat in Kathmandu , Nepal . The process of regional cooperation in energy sector began in January 2000 with the establishment of a Technical Committee on Energy. Thereafter, through the Islamabad Declaration at the 12th SAARC Summit in 2004, the Ministerial level Energy Forum was constituted.
The First Meeting of the SAARC Energy Ministers was held at Islamabad in 2005. This was the fifth meeting of the Energy Ministers held after a gap of three years. This meeting was preceded by Secretary level SAARC Senior officials meeting on 16th October 2014.
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