The full form is SAARC is South Asian Association for Regional Cooperation. Eight South Asian nations make up this geopolitical and economic alliance.
Those countries are as follows:
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- India
- Bangladesh
- Bhutan
- Nepal
- Maldives
- Pakistan
- Sri Lanka
- Afghanistan
After the United States and China, it has the world’s third-largest GDP (PPP).
Regarding nominal GDP, it is the eighth-largest economy in the world.
SAARC Organization
- The seven South Asian nations—India, Pakistan, Bangladesh, Nepal, Sri Lanka, Bhutan, the Maldives, and Afghanistan—decided in the late 1970s to create a commercial bloc to give their citizens a platform for cooperation while also fostering confidence, camaraderie, and mutual understanding.
- Zia Ur Rahaman first announced this plan to establish a trade bloc on May 2, 1980.
- On December 8, 1985, the inaugural summit was convened in Dhaka.
Cooperation Areas of SAARC
Following are the five main areas of collaboration that SAARC has designated:
- Human Resources Development
- Science, Technology, and Telecommunication
- Population and health-related activities
- Rural and agriculture development
- Transport
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Top-tier and Reputable Businesses
There are six Apex entities in SAARC, which are listed below:
- SCCI (SAARC Chamber of Commerce & Industry)
- SAARCLAW (South Asian Association for Regional Cooperation in Law)
- SAIEVAC (South Asia Initiative to End Violence Against Children)
- SAFA (South Asian Federation of Accountants)
- SAF (South Asia Foundation)
- FOSWAL (Foundation of SAARC Writers and Literature)