Pakistan Prime Minister Zafarullah Khan Jamali on Saturday mentioned Kashmir among issues that were of utmost concern, saying the world was facing the danger of terrorism and regional conflicts while old disputes remained unresolved.

"Of utmost concern is the globalisation of terror, unresolved crisis in Iraq, Afghanistan and the Korean peninsula as well as the long-standing questions of occupation of Palestine and Kashmir," Jamali said in his keynote speech, on the opening day of the second annual conference of the Boao Forum for Asia in Boao city in China's Hainan province.

He stressed that economic development was essential for peace and stability in the region. "Collective efforts are required to ensure that no region, especially in our continent suffer economic regression and decline."

He mentioned the holding of the South Asian Association for Regional Cooperation summit in Islamabad in January, which proposed the establishment of a South Asia Free Trade Area. This, he said was a significant milestone towards mutually beneficial economic cooperation in South Asia.

It will bring to the fore the huge market potential of South Asia, which if properly connected to the rich energy resources of West Asia and a fast developing East Asia, would make Asia a global economic force, Jamali said.