New Delhi: Federation of Indian Chambers of Commerce and Industries (FICCI) is "very hopeful" that the seven SAARC (South Asian Association for Regional cooperation) nations would be able to clear all roadblocks on the way to signing of SAARC Free Trade Agreement (SAFTA) at the Islamabad summit.

"As of today we are very hopeful," FICCI president Y K Modi told reporters in New Delhi today (Dec 31, 2003) on the eve of his departure to Islamabad where he would participate in SAARC chambers business symposium.

He said support for SAFTA had been "across the board".

"Earlier it was believed that Pakistan was the roadblock, but in the last one year Pakistan has turned out to be a strong supporter," Modi said.

He admitted that there had been some opposition to SAFTA from Bangladesh, but said talks were on to get Bangladeshis on board.

"The businessmen are almost convinced about the benefits and the president of Bangladesh Federation (of chambers of commerce) will speak at the symposium supporting the signing."

Modi said SAFTA, which has been delayed for two years, would not only boost the intra-region trade manifold, it would also be a big contributor to easing of political tensions in the region.

"Through SAFTA alone Indo-Pak bilateral trade will increase and this will also go a long way in resolving the all important issue of terrorism. The signing of the agreement is critical for both trade and easing political tension in the region."