Maldives host the fourth meeting of the South Asian Association for Regional Cooperation (SAARC) Council of Experts of Energy Regulators (CEERE).
The aim of the two-day meeting held in Hotel Jen is to finalise the roadmap draft of the SAARC Framework Agreement for Energy Cooperation (Electricity). SAARC Framework Agreement for Energy Cooperation (Electricity) was signed by all Member States of SAARC in 2014 at the 18th SAARC Summit held in Nepal.
The objectives of the Framework Agreement are to, facilitate integrated operation of regional grid across SAARC region and cross border trade and to enable cross-border trade of electricity amongst the Member States on voluntary basis subject to the laws, rules and regulation of the respective member states.
The meeting, kicked off by Minister of Economic Development Fayyaz Ismail. is attended by a total of 23 delegates from SAARC. During the meeting discussions will be held to identify how energy produced in one country can be purchased by or sold to the other country.
Speaking to media regarding the meeting, Director General of Environment Ministry Ahmed Ali said the meeting will enable an energy market and seek ways identify utilisation of energy produced in different countries. Ahmed Ali added if found a way, energy produced by more capable countries can be bought by remaining countries. He emphasised the need to increase cross-border energy trade to help countries overcome energy challenges, sustain rapid economic growth, and eliminate load shedding in the region. Noting a development to the region is a development to Maldives as well, he highlighted the framework will benefit Maldives technology and energy wise.
SAARC CEERE serves as a regional forum to discuss, share knowledge, and achieve consensus on harmonized rules to enable bilateral and multilateral power trade in the SAARC region.