ISLAMABAD, May 15: The two-day annual general meeting of South Asian Federation of Exchanges, which concluded here on Saturday, called for enhanced cooperation among the member exchanges to promote development of securities markets in the region.

The conference was attended by participants from Pakistan, Bangladesh, Nepal, Sri Lanka, Bhutan, Maldives and India.

The speakers called for encouraging cooperation amongst the member exchanges in order to promote development of respective securities markets and to work towards common standards including international accounting and financial standards and best business practices in the securities markets.

Speaking on the occasion, adviser to the prime minister on finance and revenues Dr Salman Shah called for greater cooperation by exploring the rich economic potentials of the region.

He said South Asia had become the centre for development of world growth and trade.

Chairman Securities and Exchange Commission of Pakistan Dr Tariq Hassan said increased financial activity within the region would lead to the growth of capital markets.

He said the objective of enhanced economic growth through effective cooperation amongst the members needed to be achieved in a phased manner.

Patrick Morton, the head of consultancy services at the London Stock Exchange, spoke humanization of listing regulations and cross-border listing among the SAFE members.—APP