Capital, particularly the portfolio flow, is highly mobile, can easily reverse its direction and it is difficult to invoke the "rules of origin" in regard to such capital. Hence, we believe in a gradual process of fuller capital account liberalisation, while recognising the growing ineffectiveness of micro controls in a world of deep trade integration.
Thus, the trade, investment and financial flows do go together, but in a somewhat harmonious as well as well-sequenced manner and not necessarily, in a simultaneous manner. Finally, in the ACU and SAARCFINANCE Group meetings in Dhaka, the deliberations, by and large, reflected your sentiments, calling for greater co-operation, recognising the emerging global realities.