South Asian Association For Regional Cooperation (SAARC)

South Asian Association for Regional Cooperation or SAARC is a reputed multilateral organization in the South Asian region. The objective of SAARC is to work for the development of Economic and Regional Integration. There are 8 members of the South Asian Association for Regional Cooperation which are India, Bangladesh, Bhutan, Maldives, Nepal, Pakistan, Sri Lanka and Afghanistan. 

SAARC is an important topic related to the Important International Organizations. Candidates who are preparing for UPSC Exam or other government exams should cover this organization during their preparation. In this blog, we have mentioned the history, objectives and other relevant topics of SAARC.

What is SAARC and It’s History

The foreign secretaries of all 7 member nations met in Colombon in April 1981 and initiated the need for a regional international organisation. SAARC was founded on 08 December 1985. The headquarters of the South Asian Association For Regional Cooperation is in Kathmandu, Nepal. Apart from India, Bangladesh, Bhutan, Maldives, Nepal, Pakistan, and Sri Lanka, Afghanistan is also a member of SAARC. 

SAARC comprises 3% of the total world’s land area, 5.21% of the global economy, and 21% of the world’s population as of 2021. According to its Charter, the objective of SAARC is to promote the welfare of the peoples of South Asia and to improve their quality of life to accelerate economic growth, social progress and cultural development in the region.

Must Read: International Monetary Fund

Facts About South Asian Association For Regional Cooperation

• SAARC was established on 08 December 1995 in Dhaka when its charter was formally adopted by member nations
• There are 8 members of SAARC.
• Afghanistan became the newest member of the South Asian Association For Regional Cooperation in 2005.
• Russia and Turkey showed their interest in becoming members of SAARC.

Areas of Cooperation in SAARC

The member nations of SAARC agreed on cooperation in various areas. We have mentioned the areas below.

• Trade and Finance Social Affairs Information and Poverty Alleviation Energy
• Transport, Science and Technology Education
• Security and Culture and Others
• Human Resource Development and Tourism 
• Agriculture and Rural Development Environment
• Natural Disasters and Biotechnology Economic

Also Read: United Nations Organization: History, Objectives and Components

Observers of South Asian Association For Regional Cooperation

There are 9 nations in the world that are observers of the South Asian Association for Regional Cooperation which are Australia, China, The European Union, Iran, Japan, The Republic of Korea, Mauritius, Myanmar, and The United States of America.

Special Bodies

There are 4 special bodies of SAARC which are mentioned below.

• South Asian University (SAU)- India
• South Asian Regional Standards Organization (SARSO)- Dhaka
• SAARC Development Fund (SDF) – Bhutan 
• SAARC Arbitration Council (SARCO) – Pakistan

Achievements of SAARC as an Organization

Being a new organization in the world arena, South Asian Association For Regional Cooperation is working on several projects for the betterment of people living the area. We have mentioned some of the important achievements of SAARC.

• Free Trade Area- The member nations have established a free trade area to increase their internal trade and lessen the trade gap.
• SAFTA- SAARC Free Trade Agreement signed by member states to reduce customs duties. The goal is to reduce customs duties to zero till 2016.
• South Asia Preferential Trading Agreement- Member Countries signed the South Asia Preferential Trading Agreement to promote trade amongst all 8 member countries. It came into effect in 1995, including Afghanistan after the year 2005.
• SAARC University- Member nations established SAARC University and Food Bank in India. Also, Energy Reserve in Pakistan.

FAQs 

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