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CLAT 2021 21 Year Experienced Team

and economic development.

f Economic integration: A breakthrough in this regard came with the SAARC Preferential Trade
Agreement (SAPTA), opening the way for a certain expansion of intra-SAARC trade. The objective of
SAFTA include; elimination of all sorts of barriers in trade and facilitation of free and fair movements of
products; promoting fair competition and free trade environment in respect of existing economic
conditions which will ensure the maximum benefit and establish an institution frame to promote regional
cooperation.
f SAARC convention on suppression of Terrorism: Terrorism has been one of the serious problems faced by
almost all the countries of the South Asian region. To deal with this problem, the SAARC convention on
suppression of Terrorism was signed and later the Additional Protocol on Terrorism was signed taking in
to account the terrorist financing.
f Financial cooperation: The Meetings of Finance Ministers of SAARC take place at regular intervals. The
establishment of an Inter-Government Export Group on Financial matters was the outcome of such
meetings which laid down a roadmap for achieving the South Asian economic cooperation in phased
manner.
Major problems of SAARC:

f Regionalism: It has a different meaning and purpose for each nation especially when they become a
part of any regional organization. In most cases states that join hands in any regional cooperation
mechanism, have certain basic differences, for most regional cooperation is limited to economics
through free-trade agreements.

f Inability to tackle inter-state conflicts: It has often made it hostage to bilateral conflicts and national
interests of member countries.

f The lack of trust among member states: It has often led manifestation itself in the ineffective
administration of several of the initiatives taken by SAARC.
f Some other problems: Strict rules followed at the official level and by the SAARC Secretaries.
f Redtapism, paper work and bureaucratic hurdles at the secretariat level. Unnecessary formalities. Lack
of political will at the leadership level.
f Absence of collective vision for rejuvenating region in the face of the globalization challenge.

SAARC and India
f Founding member: India is a founding member of the SAARC which aims to build a connected and
integrated South Asia with the larger aim of promoting the development and progress of all countries in
the region.
f Neighbourhood First policy: India's engagement with SAARC countries is based on a consultative,
non-reciprocal and outcome-oriented approach, while focussing on delivering benefits like greater
connectivity, improved infrastructure, stronger development cooperation in various sectors.
f Technology transfer: India has been steadfast in its commitment of sharing the fruits of technological
advances. In this context, India has extended its National Knowledge Network (NKN) to the countries of
South Asia.
f South Asian University (SAU): India is home to South Asian University (SAU). It aims to provide world
class educational facilities and professional faculty to students and researchers from SAARC countries.
f SAARC Disaster Management Center: India also hosts the Interim Unit of SAARC Disaster

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