SAARC a valuable forum

As a common regional co-operation forum, the South Asian Association for Regional Cooperation (SAARC) was founded in 1985. The regional organisation was set up as per the concept of regionalism, which has been gaining ground world-wide. SAARC aims to promote the well-being of the people in this part of the world and improve their living standards.
Gearing economic growth, making social progress and cultural development, reinforcing links between the member states and enhancing mutual collaboration and assistance in economic, social, technical and scientific fields are other objectives of this organisation.
SAARC performance in the last 24 years has been mixed. On the economic front, the South Asian countries have achieved impressive growth rate above 7.0 percent on the annual average in the last two decades. The regional economies have best weathered the impact of severe global economic recession inflicted by a massive financial crisis since 2007. In 2007, Afghanistan and Bhutan witnessed growth in double digits.
The other regional economies, except Nepal, have growth above 6.0 percent. South Asia has also achieved limited success in technological advancement at a time when the world is witnessing rapid changes in technological conditions. The region has not developed the required technological knowledge and skill-base to become competitive in the global market. Because of low knowledge and skill-base, the productivity per worker is low and cost of doing business in the region is very high.
South Asian countries are more exposed to new challenges and great uncertainty in the global economy. The global economic crisis has affected the developed and developing countries alike. Fundamental structural imbalances have resulted in economic inequality and retarded growth. The shape of globalisation, WTO regime and structural conditional ties by the IMF and other development finance institutions have perpetuated increase in poverty and economic inequity in most of the regional economies.
The SAARC countries need to respond to the emerging situation in a holistic manner by forging a common strategy by exploring options to safeguard regional interests through joint ventures, and technology transfer among its member countries. A cohesive and economically integrated South Asia would be in a better position to negotiate globally for advantageous terms of trade with the WTO regime and development institutions.
The acceleration of regional economic activities would help to enrich the lives of the people of the region and resolve the problem of poverty, weak social indicators and barriers of global trade policies to mutual comparative advantage. The region is full of challenges and opportunities. South Asia is home to more than 1.5 billion people associated with various racial, lingual and religious groups.
Some of the main challenges and problems facing the region include poverty, illiteracy, underdevelopment, terrorism, human trafficking, and racial and ethnic conflicts. Similarly, food and energy crises have also come out as burning issues of the region. In spite of such challenges and problems, South Asia is abundant in human as well as natural resources. When these resources are managed and utilised effectively, the region is sure to make considerable socio-economic progress within a short span of time.
The South Asian people have many reasons to be optimistic if we look at the SAARC Charter with countries of different sizes, various levels of socio-economic development, historical legacies between and among the nations of the region. But, when the progress made by SAARC is assessed minutely, we do not find a very encouraging picture in terms of quality of life the people in South Asia.
However, SAARC is gradually fostering co-operation among the member states in a wide range of areas. Because of its contributions to promoting peace, good neighbourly relations and bringing about socio-economic transformation in the region, SAARC has become a valuable forum among its member states. As a saying goes: 'Rome was not built in a day', the regional forum also requires some more time to achieve its goals and objectives.
It goes without saying that terrorism is one of the major concerns of SAARC. The issues related to food security, energy and trade are equally important in the region. Moreover, effective connectivity, co-operation, co-ordination, dignity, welfare and quality of living standard of the people in the South Asia are also crucial agendas which needs to be addressed.