These include attracting foreign direct investments and encouraging trade among the South Asian countries.
V Raghuraman, the first chairman of this board said, "This is the first phase of the meeting. The by-laws and mission statement were discussed and now we will focus on taking this forward."
Raghuraman said major energy issues facing South Asian countries include accommodating rising energy demand and the promotion of cross-border energy trade.
Given the economic and political ramifications of limited and infrequent power supply, South Asia is faced with the challenge of diversifying traditional energy supply, including expansion of indigenous energy resources, promoting additional foreign investment for energy infrastructure development and expanding regional trade and investment.
He said, "India, for instance, has already begun investing in Bangladesh and Mynmmar. Nepal on the other hand has 15 independent power producers who have 200 MW of hydel power. "
"What we can do is look at a possibility of developing a transmission corridor between India and Nepal to leverage the power and both can reap the benefit. We are trying to create a climate of understanding," he added.
Apart from these issues, the board also formally adopted a social marketing rogram for SAREC members that would help them with limited financial program to develop and implement regional awareness advertising campaigns that highlight the need for increased regional energy cooperation and specific energy issues of interest to the selected members.
The board will provide its member organisations with analysis, information and evaluation of energy sector policies and develop new ideas and policy proposals by facilitating substantive discussion among the members through regular advocacy activities.
It will also promote effective public-private partnerships in the energy and power sectors in the member countries.
