Explain SAARC and SAFTA.
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Answer / Ajay Raman Srivastav
SAARC (South Asian Association for Regional Cooperation) is an economic and political organization established in 1985. It consists of eight member states: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. The main objective of SAARC is to promote the welfare of the peoples of South Asia and to improve their quality of life through joint efforts in regional development.
SAFTA (South Asian Free Trade Area) is a free trade agreement among the same member countries of SAARC. It was launched on January 1, 2004, with the aim to gradually eliminate tariffs and trade barriers to promote trade and economic cooperation within the region.
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