Role of saarc in promoting regional economic integration
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(SAARC)
02/05/2016 - 13:14
Relations with International Organisations and Fora
SAARC is an economic and political regional organisation of countries in South Asia set up in 1985. It aims to accelerate the process of economic and social development in its member states through increased intra-regional cooperation.
SAARC(link is external) has eight member countries (Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri-Lanka) and eight observer status countries (China, the European Union, Iran, Japan, South Korea, Mauritius, Burma/Myanmar and the United States of America). SAARC Heads of State are scheduled to meet at annual Summits. The last Summit was held in 2010 in Thimphu (Bhutan), with Bhutan becoming the SAARC Chair. The Maldives will be chairing SAARC from 10-11 November, when the 17th Summit will take place in the capital Male.
The EU has observer status since 2006, and greatly values co-operation and regional integration in South Asia. The EU believes that it can help consolidate the ongoing integration process through its economic influence in the region, its own historical experience of economic and trade integration and of dealing with diversity, and its interest in crisis prevention. It is convinced that SAARC could play a useful role in regional co-operation and dialogue.