KATHMANDU, Oct. 2 (Xinhua) -- Nepal, current chair of the South Asian Association for Regional Cooperation (SAARC), said Sunday that it will initiate necessary consultation on successfully holding the 19th SAARC summit.
The statement came two days after Pakistan, the host nation of the summit, announced postponement of the summit amid escalating tensions between India and Pakistan.
The 19th SAARC summit had been slated for November 9 and 10 in the Pakistani capital Islamabad.
Last week, SAARC member states - Afghanistan, Bhutan, Bangladesh and India decided to boycott the summit amid the tensions between India and Pakistan.
"Nepal will initiate necessary consultation on successfully holding the 19th Summit with the participation of all member states," Nepali Foreign Ministry said in a statement on Sunday.
"Nepal strongly believes that an environment of peace and stability is essential for a meaningful regional cooperation," the foreign ministry also stressed.
SAARC is a regional body founded in 1985 in South Asia, comprising Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.
