ISLAMABAD, Dec 6: Central Board of Revenue (CBR) Chairman M. Abdullah Yousuf on Monday urged the representatives of Saarc member countries to conclude the draft agreement on avoidance of double taxation and fiscal evasion.

He was speaking at a two-day meeting of a sub-group of the Inter-Governmental Experts Group (IGEG) held to discuss the draft treaty, which was likely to be signed in the next Saarc Summit to be held in Bangladesh.

Mr Yousuf urged the participants to try to conclude the pending issues concerning the agreement. Pakistan's Prime Minister Shaukat Aziz also desired to conclude the deliberations and finalize the agreement, he said.

The CBR chairman said unfortunately, this part of the world had not made progress in accordance with the potential which existed in the region. Meaningful regional cooperation among the Saarc member states would lead to their progress and prosperity, he added.

He said the agreement on avoidance of double taxation among the member states of Saarc was a step forward towards promotion of meaningful cooperation in the region. "We are looking forward to successful implementation of the South Asian Free Trade Agreement (Safta)", the chairman said.

Mr Yousuf said there was a great realization among leaders of the Saarc countries that regional cooperation was a key to the rapid progress of their respective countries.