Mumbai: The adoption of a 'social marketing programme' (SMP) with limited financial support to develop and implement awareness advertising campaigns, marked the highlight of the inaugural board meeting of the 'South Asia regional energy coalition' (SAREC) held at Mumbai today.

The SAREC (comprising member organisations from India, Bangladesh, Nepal, and Sri Lanka) meet marks the formalisation of a structure to carry forward the SAREC agenda of promoting regional energy and power sector reforms; attracting new foreign direct investment; and encouraging energy trade among the countries of South Asia.

SAREC was established by the US Chamber of Commerce through a cooperative agreement between the United States Agency for International Development (USAID) in April of 2001. The coalition is an organisation and networking mechanism through which public and private sector stake holders can influence regional energy policy and reform throughout South Asia.

The goal of the coalition is the establishment of an integrated South Asia regional energy market through:

• Regional Energy Trade and Exchange
  
• Regulatory and Tariff Policy Reform
  
• Private Sector Involvement
  
• Rural Energy Supply
  
• Energy Efficiency Energy Efficiency

The SAREC board endorsed the South Asian Preferential Trade Act (SAPTA) and advancing the energy reform programmes in the various member countries as a good first step for regional power trading.

The members also felt that adopting certain enabling provisions of the North American Trade Agreement (NAFTA) would make cross border energy trading a more feasible option. The South Asia Free Trade Agreement (SAFTA), it was felt, poses a unique opportunity for increased public-private partnership in the energy and power sectors.

The board will provide its member organisations with regular 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.