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  • South Asian Association For Regional Cooperation

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    Anamali Bathija
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    The South Asian Association for Regional Cooperation (SAARC) is an economic cooperation organization between 8 countries in South Asia founded in 1985 with the goal of promoting economic and social progress. Member countries include Sri Lanka, Bhutan, India, Maldives, Nepal, Pakistan, Bangladesh and Afghanistan which joined in 2005. SAARC established the South Asian Free Trade Area (SAFTA) in 2004 to create a free trade bloc and ensure equitable economic benefits for members by gradually reducing trade barriers. SAFTA benefits India by increasing access to other South Asian markets and reducing trade costs.

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    SAARC

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    The South Asian Association for Regional Cooperation (SAARC) is an economic cooperation organization between 8 countries in South Asia founded in 1985 with the goal of promoting economic and social progress. Member countries include Sri Lanka, Bhutan, India, Maldives, Nepal, Pakistan, Bangladesh and Afghanistan which joined in 2005. SAARC established the South Asian Free Trade Area (SAFTA) in 2004 to create a free trade bloc and ensure equitable economic benefits for members by gradually reducing trade barriers. SAFTA benefits India by increasing access to other South Asian markets and reducing trade costs.

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    37 views5 pages

    South Asian Association For Regional Cooperation

    Uploaded by

    Anamali Bathija
    The South Asian Association for Regional Cooperation (SAARC) is an economic cooperation organization between 8 countries in South Asia founded in 1985 with the goal of promoting economic and social progress. Member countries include Sri Lanka, Bhutan, India, Maldives, Nepal, Pakistan, Bangladesh and Afghanistan which joined in 2005. SAARC established the South Asian Free Trade Area (SAFTA) in 2004 to create a free trade bloc and ensure equitable economic benefits for members by gradually reducing trade barriers. SAFTA benefits India by increasing access to other South Asian markets and reducing trade costs.

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    South Asian Association for Regional cooperation.

    Introduction
    The South Asian Association For Regional Cooperation is an organization of South Asian nations founded on 8th december 1985 and is dedicated to economic, technological, social and cultural development. Members : Sri Lanka ,Bhutan, India, Maldives, Nepal, Pakistan and Bangladesh. Afghanistan joined in 2005. Secratariat: Established in Kathmandu on 16 January 1987.

    SAFTA
    SAFTA is a pact signed on 6th january, 2004 between the eight SAARC nations at the 12th SAARC summit held in Islamabad. Which started operating from 1st january, 2006 To create a free trade bloc among the eight countries. Trade liberalisation programme. Ensuring equitable benefits to all.

    Benefits to India
    Greater access for Indian goods in the neighbouring countries. Brings down trade costs.

    17th SAARC summit


    Intra-regional trade in SAFTA has touched US $ 1.4 billion. Slashing of sensitive list to 25 tariff lines. India assumed presidency of the business chamber of SAARC.

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