Discuss the success and shortcomings of saarc. What are the new initiatives taken and proposed for strengthening regional and economic co-operation among saarc countries
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Answer:
SAARC brings together and strengthen the economic development, technological advancement, social and cultural improvement among the SAARC Member countries and act as a mentor for making a relationship with developed nations to obtain support and help that is necessary. There are multiple levels when member countries jointly work by undertaking programs jointly. Hence, a relationship can be established for economic policies of mutual interest. SAARC has a desire for integration, but at a slower rate compared to the European Union, South East Asia, and Asia Pacific economic development. Prime reasons for the ineffectiveness of regional initiatives is the lack of political commitment and about the failures capture various socio-economic and diplomatic benefits.