What is the Full form of SAARC?
The full form SAARC is the South Asian Association for Regional Cooperation. It is a geopolitical and economic body of eight countries located in South Asia.
Those countries are as follows
- Sri Lanka
In terms of GDP ( PPP), it is the world’s third-largest economy, after China & USA.
It is the world’s 8th-largest economy in terms of nominal GDP.
- The seven South Asian countries, including Pakistan, India, Bangladesh, Nepal, Sri Lanka, Bhutan the Maldives, and Afghanistan, settled in the late 1970s and agreed to create a trade bloc to provide a forum for the citizens of South Asia to function in the spirit of friendship, confidence and understanding at the same time.
- On May 2, 1980, Zia Ur Rahaman initially lifted this initiative to create a trade bloc.
- The first summit was held in Dhaka on December 8, 1985.
SAARC’s Cooperation Areas
The five primary cooperation areas assigned by SAARC are as follows:
- Human Resources Development
- Rural and agriculture development
- Science, Technology, and Telecommunication
- Population and health-related activities
Apex and Respected companies
SAARC has six Apex entities that are listed below
- SAARCLAW (South Asian Association for Regional Cooperation in Law)
- SCCI (SAARC Chamber of Commerce & Industry)
- SAFA (South Asian Federation of Accountants)
- SAF (South Asia Foundation)
- FOSWAL (Foundation of SAARC Writers and Literature)
- SAIEVAC (South Asia Initiative to End Violence Against Children)