Leaders of the South Asian Association for Regional Cooperation have wound up a two-day summit in the Sri Lankan capital, Colombo. They signed various agreements and pledged to make more efforts to combat terrorism and ensure food security in one of the world's poorest regions.

During the Summit, the eight South Asian countries adopted a regional anti-terrorism cooperation agreement.

The agreement calls for freezing funds that might be used for terrorist activities, regular meetings between security chiefs, the exchange of intelligence, and training of personnel dealing with terrorism and drug offences.

Sri Lankan President Mahinda Rajapakse attends the concluding  ceremony of the South Asian Association for Regional  Cooperation(SAARC) summit in Colombo August 3, 2008.(SRI LANKA)

Mahinda Rajapakse, Sri Lankan President said, "During the summit there was a clear recognition that terrorism has become a great menace throughout the world, including our region. South Asia cannot progress unless there is stability and security throughout the region. It is in recognition of this reality that we have ensured the signature at this summit of the convention on mutual legal assistance in crime matters."

South Asian leaders also approved the immediate establishment of a food bank to cope with regional shortages triggered by rising prices, as well as plans for improving energy security.

They agreed to focus on developing hydropower and renewable energy programs involving solar equipment and wind turbines.

The summit also endorsed the creation of a regional development fund and rules for standardization of products traded among the countries.