Overview of the SAARC Economy

The southbound Asian Association for Regional Cooperation (SAARC), comprising the cardinal southbound Asian countries of Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka, formally came into existence in 1985 with the adoption of its choose at the first Summit in Dhaka (7- 8 December 1985). The idea of divisional cooperation was first proposed through a partingal forum by Bangladesh in 1980, with a view to holding periodic, regional-level consultations among countries in South Asia on matters of mutual interest and possible cooperation in economic, social, cultural and other fields. The rationale was primarily predicated on the thrive that regional experiences elsewhere in the globe had been highly gentle and that the countries in the South Asian region would benefit hugely from such cooperation as it would strengthen their competitive position, both one after another and as a group as compared to the other planetary communities like the EU. The Bangladesh proposal argued that inherent logic strongly embody regional cooperation, particularly among South Asian countries, because the countries in the region enjoy geographical contiguity, historical, social, cultural and ethnic affinities which would act as centripetal forces and thus, contribute significantly to facilitate coordination and to reduction of get costs.

The Foreign Secretaries of the septette South Asian countries accordingly sustain at their first meeting in Colombo (21 - 23 April, 1981) to pursue cooperation in five broad areas, namely agriculture, countryfied development, telecommunications, meteorology, and h ealth and population services. The Foreign S! ecretaries also agreed to dress up a Committee of the Whole comprising senior officials from the seven countries to identify and report on other areas of possible cooperation. At the first Meeting of this Committee in Colombo, Sri Lanka (31 August - 2 September 1981), the need to expand economic relations, and the need for cooperation in international economic negotiations... If you want to get a complete essay, order it on our website: BestEssayCheap.com

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