KATHMANDU, Oct 24: Traders from across the region are expected to flock to the Nepalese capital Kathmandu on Friday for the fourth South Asian Association for Regional Cooperation (Saarc) trade fair, an official said.

Prime Minister Lokendra Bahadur Chand is scheduled to open the five-day fair, which is being held in Nepal for the first time, the foreign ministry official said.

All Saarc member countries except the Maldives will be represented at the fair, which is expected to be dominated by India with 78 stalls, followed by 73 from Nepal, organiser Siddhi Charan Dahal said.

Bangladesh has set up 25 stalls, Bhutan 11 and Pakistan nine at the fair grounds, in the Birendra International Conference Hall on the outskirts of Kathmandu.

“The main objective of the (fair) is to explore markets for domestic products of the SAARC region,” the foreign ministry official said.

The trade meet, which rotates between the various member countries, is planned by Saarc’s Trade and Economic Cooperation Department as part of its efforts to forge a South Asian Free Trade Agreement (SAFTA).

“Over 5,000 trading items have been submitted by the respective member countries for the special trading facilities but there has not yet been any agreement,” a Saarc secretariat official said.

Pakistan’s economic profile in Nepal is low, despite the friendly state of relations between the two South Asian countries.—AFP