New Delhi: A single currency in South Asia, mutual security co-operation and open borders could be the region's peace dividend, ushered in through the creation of hope and opportunity for its billion-and-a-half people, said the Prime Minister, Mr A.B. Vajpayee, while inaugurating a conference on `Peace dividend - Progress for India and South Asia' here

"The investment inputs required to reap this dividend are pragmatic politics, rational economics and popular participation," he said.

Cautioning against letting "outside powers" exploit the differences among the countries in the region, Mr Vajpayee noted that political disputes in other parts of the world had been "quietly deferred for tackling at a more opportune time."

Elaborating on his `ambitious and futuristic though plausible line of thinking,' Mr Vajpayee said: "As we develop greater economic stakes in each other, we can put aside mistrust and dispel unwarranted suspicions." In the post-Cold War context, he pointed out that other parts of the world were increasingly focusing on regional economics. Stating that "political disputes have been resolved diplomatically or quietly deferred... ," the Prime Minister said, "There is a clear recognition that hostility only stunts economics, inhibits trade and retards progress."