The 18th SAARC summit
Prime Minister Narendra Modi on Wednesday proposed a Saarc business traveller card for making it easier for traders and merchants in the region to travel and access one another’s markets.
According to Modi, intra-regional relations become stronger as connectivity is increased and people-to-people contacts encouraged. He said this will also provide for boosting opportunity for tourism in the region.
The 18th SAARC summit is being held in Kathmandu, Nepal.
About SAARC :
The South Asian Association for Regional Cooperation (SAARC) is an economic and geopolitical organisation of eight countries that are primarily located in South Asia.
- The SAARC Secretariat is based in Kathmandu, Nepal.
- The combined economy of SAARC is 3rd largest in the world in the terms of GDP(PPP) after the United States and China and 8th largest in the terms of GDP(Nominal).
- SAARC nations are having 3% of world’s area and in contrast having 21% (Around 1.7 Billion) of world’s total population
- The idea of regional political and economical cooperation in South Asia was first raised in 1980 and the first summit was held in Dhaka on 8 December 1985, when the organisation was established by the governments of Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.
- Since then the organisation has expanded by accepting one new full member, Afghanistan, and several observer members.
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