The external affairs ministry was authorised on Thursday by the Union Cabinet to negotiate and finalise the text of the convention for such cooperation so that it can be signed during the SAARC summit in August, to be attended by Prime Minister Manmohan Singh.
"The convention would provide a broad framework for SAARC member states to mutually cooperate and assist in the investigation and prosecution of crime and the tracing, restraint and forfeiture of the proceeds and instruments of crime," Information and Broadcasting Minister PR Dasmunsi told media-persons in Delhi.
The Cabinet also gave its nod for signing an agreement for setting up the South Asia Regional Standards Organisation during the dummit.
The proposal, mooted by India, is expected to enhance the level of economic engagement with the SAARC countries by envisaging regional cooperation on standards and quality control.
The pact will also promote trade, besides development of quality infrastructure to the entire region, Dasmunsi said.
