Q1. Analyze the economic cooperation in South Asia.
- SAARC is the primary regional body for economic cooperation in South Asia.
- SAPTA (1995) initiated preferential tariff reductions, with limited success.
- SAFTA (2006) aimed for a free trade area but faces significant implementation challenges.
- Political tensions, especially India-Pakistan rivalry, are major impediments to cooperation.
Answer: Economic cooperation in South Asia, primarily facilitated by the South Asian Association for Regional Cooperation (SAARC), has been a complex and often challenging endeavor. Despite significant potential for regional growth and shared prosperity, progress has been hampered by a multitude of political, economic, and logistical obstacles. SAARC was established in 1985 with the ambitious goal of promoting regional cooperation in various sectors, including economic development. Early initiatives fo...