ISLAMABAD, Jan 4: Here under are the highlights of the inaugural session of the 12th South Asian Association for Regional Cooperation (Saarc) summit that began at the Convention Centre here on Sunday.

*Nepalese Prime Minister Surya Bahadur Thapa declares the 12th Saarc Summit open as the current chairman.

*Mr Thapa says regional countries are encouraged by recent peace initiatives between Pakistan and India.

*The Nepalese leader hands over chairmanship of Saarc to Prime Minister Zafarullah Jamali.

*Prime Minister Jamali assumes chairmanship of the 12th Saarc summit as leader of the host country.

*All leaders appreciate South Asian Free Trade Agreement and urge collective efforts for poverty reduction.

*Saarc leaders hope that the 12th summit would be a landmark in increasing economic cooperation among the South Asian countries.

*Sri Lankan President Chandrika Bandranike is the first among leaders to deliver a speech.

*Leaders of Saarc countries sign the Social Charter, calling for efforts to improve the conditions of people in regional countries.-APP