INDIA HAS TO BE PRO-ACTIVE IN THE SAARC REGION
BIMSTEC CAN PLAY MORE EFFECTIVE ROLE
2015-01-07 12:09
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Integration of South Asia has become a dream for some skeptics after the last SAARC summit at Kathmandu. They believe that SAARC’s march towards a common customs union and an economic union and then to a monetary union would continue to remain as a distant possibility for times to come. The SAARC Free Trade Area (SAFTA) already in operation has not met with much success as the official intra-regional trade remains around $22 billion a year, though trade through unofficial channels continue unabated. If the figures of unofficial trade is added up to the figures of official, the total may be somewhere around $60 billion. This shows the potentiality of the region.