South Asian nations advised to ink energy treaty: Report

South Asian countries were asked to ink a treaty for regional cooperation in the energy sector.

A report Confederation of Indian Industryby the  says this should minimise risks associated with energy-related investment among India, Nepal, Bangladesh, Bhutan, Pakistan and Sri Lanka.

“The member states’ governments should formulate a South Asia Energy Treaty to minimise the risk associated with energy-related regional investments and trade focusing on inter-governmental co-operation in energy sector,” the report said.

At present, India, Bhutan and Nepal are the only countries that trade electricity in South Asia. The report has stressed on the need for a comprehensive and reliable energy database for the region, which would help evolve a better understanding about the business and trade benefits in South Asia.

According to the report, titled, ‘South Asia Energy Cooperation and Business Opportunities in Power Sector’, there should be a common business-friendly legal and regulatory framework.