On the energy front, the summit acknowledged the need for “expediting the development of conventional energy resources in a sustainable manner and strengthening the renewable energy development such as on hydropower, bio-fuel, solar an wind”.

In order to manage emergencies caused by natural and man-made calamities and food shortages, the leaders welcomed the signing of the Intergovernmental Agreement establishing the SAARC Food Bank with the participation of all member countries. The Food Bank will supplement national efforts to provide food security to the people of the region.

The SAARC Summit agreed to operationalise the SAARC Development Fund and establish the South Asian University besides agreeing to set up the SAARC Arbitration Council.

“The cooperation and accommodation that have characterised our deliberations and negotiations show that our countries are ready for a transformation of SAARC into an effective instrument of regional advancement,” the Prime Minister said in his closing remarks.