Kamran Reza Chowdhury reported that the 16th summit of the South Asian Association for Regional Cooperation will commence on Wednesday in Thimphu, Bhutan. The regional group, which was founded in Dhaka in 1985, is celebrating its 25th anniversary. Various leaders including Afghan president Hamid Karzai, Maldivian president Mohamed Nashid, Sri Lankan president Mahinda Rajapaksha, Bangladesh prime minister Sheikh Hasina, Indian premier Manmohan Singh, Nepalese prime minister Madhav Kumar Nepal, and Pakistan's prime minister Syed Yousaf Raza Gillani are scheduled to deliver speeches at the opening session. Bhutan's Prime Minister Lyonchhen Jigmi Y Thinley will chair the session, marking the first time the country has hosted the summit. In addition to the Thimphu declaration, the two-day summit will focus on a SAARC statement on climate change. Despite being in existence for 25 years, critics argue that the regional grouping has not made significant progress in reducing poverty or improving the lives of the more than 1.5 billion people in the region. The common perception in SAARC member countries is that the annual summit is a platform for leaders to make promises they do not fulfill. Bhutan's foreign secretary Daw Penjo stated that the summit allows leaders to meet in person without media and bureaucrats, improving relations. The 16th SAARC summit aims to create a 25-year roadmap based on the region's people's aspirations. Additionally, SAARC foreign ministers have finalized drafts of two agreements for approval - one on environmental cooperation and the other on trade in services. The council of ministers and standing committee have prepared the Thimphu declaration and Thimphu statement on climate change for the 16th summit. A common SAARC position on climate change will be announced by member states, without legally binding emission cut targets. Bangladesh's proposal includes a SAARC charter for democracy to promote democracy in all eight countries, according to foreign secretary Mohamed Mijarul Quayes. All heads of states and governments, except Indian prime minister Manmohan Singh, have arrived in Thimphu, a picturesque hilly city. Singh is expected to arrive Wednesday morning before the summit begins at 2:30 pm. The summit will also witness the establishment of the headquarters of the SAARC Development Fund in Thimphu.