<p>Closing the summit, Maldives President Mohammad Nasheed, the host and chair, announced a set of decisions that included commitments to reducing trade barriers, strengthening investment and enhancing connectivity.<br /><br />"It was decided by consensus to direct the SAFTA (South Asian Free Trade Agreement) ministerial council to reduce the sensitive list and non-tariff barriers," Nasheed said.<br /><br />Nasheed also thanked India for its initiative in deciding to reduce the sensitive lists for the least developed countries under SAFTA from 480 tariff lines (categories in a country's tariff schedule) to 25. <br /><br />The SAARC leaders also also directed the finance ministers of their countries to explore avenues for more investment in the region. They also decided to conclude a railway agreement and a motor vehicles agreement before the next meeting of the SAARC council of ministers, expected some time in 2012.<br /><br />Nasheed also announced Nepal will host the 18th SAARC summit in 2012.<br /><br />The Maldivian President said the Summit also mandated the Finance Ministers to discuss a mechanism to promote capital flows and investment.</p>.<p><br />With 'Building Bridges' as its theme, the Summit agreed to move ahead on a regional railways agreement and a motor vehicle pact, which will make travel among SAARC nations much easier than it is today.<br /><br />The Summit also agreed to set up a South Asian Postal Union whose Secretariat will be established in India.<br /><br />On security issues, the 8-nation grouping agreed on rapid response to natural disasters and to combat maritime piracy. </p>
<p>Closing the summit, Maldives President Mohammad Nasheed, the host and chair, announced a set of decisions that included commitments to reducing trade barriers, strengthening investment and enhancing connectivity.<br /><br />"It was decided by consensus to direct the SAFTA (South Asian Free Trade Agreement) ministerial council to reduce the sensitive list and non-tariff barriers," Nasheed said.<br /><br />Nasheed also thanked India for its initiative in deciding to reduce the sensitive lists for the least developed countries under SAFTA from 480 tariff lines (categories in a country's tariff schedule) to 25. <br /><br />The SAARC leaders also also directed the finance ministers of their countries to explore avenues for more investment in the region. They also decided to conclude a railway agreement and a motor vehicles agreement before the next meeting of the SAARC council of ministers, expected some time in 2012.<br /><br />Nasheed also announced Nepal will host the 18th SAARC summit in 2012.<br /><br />The Maldivian President said the Summit also mandated the Finance Ministers to discuss a mechanism to promote capital flows and investment.</p>.<p><br />With 'Building Bridges' as its theme, the Summit agreed to move ahead on a regional railways agreement and a motor vehicle pact, which will make travel among SAARC nations much easier than it is today.<br /><br />The Summit also agreed to set up a South Asian Postal Union whose Secretariat will be established in India.<br /><br />On security issues, the 8-nation grouping agreed on rapid response to natural disasters and to combat maritime piracy. </p>