Economic CBM's in SAARC Nations

The proposal for the establishment of SAARC was mooted by President Zia-ur-Rehman of Bangladesh and despite initial reservation exhibited by India and Pakistan. SAARC was born in December 1985. Since then it has provided the institutional framework for promoting regional cooperation among South Asian Countries. SAARC was conceived as an association for purely economic, social and cultural cooperation but working of SAARC reveals that it has two main dimensions: Economic and political. Even though SAARC is one of the youngest regional economic groupings, it has made rapid progress in terms of initiatives aimed at fostering an economic integration in the region. Over the past decade or so, the South Asian countries have undertaken some significant reforms of their economies to integrate themselves more intensively with the world economy.