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Economic Regionalization in the Asia-pacific

Economic Regionalization in the Asia-pacific

Challenges to Economic Cooperation

M. Dutta

This original and comprehensive book provides a unique insight into the development of economic regionalization, with special reference to the Asia-Pacific. It presents international globalization strategies from a historical perspective and then analyses the effects on the development of Asia-Pacific Economic Cooperation (APEC). Focusing on APEC itself, the author provides a detailed investigation into its organization and agenda, and thorough personal interviews with some of the most influential people who have worked for APEC.

Chapter 30: The South Asian Association for Regional Cooperation (SAARC)

M. Dutta

Subjects: asian studies, asian economics, economics and finance, asian economics, international economics


Page 275  30  The South Asian Association for Regional Cooperation (SAARC)  We take a map­of­the­world view of Asia and examine the South Asian region­specific institutionalized cooperation of India and six other sovereign nation­state­based  economies. Belonging to the map of the region is the core argument for geo­economics. The sovereign economies of Laos, Cambodia and Mayanmar wait to become  members of one or another regional association.  The South Asian Association for Regional Cooperation (SAARC) is another institutionalized expression of a specific regional grouping of seven sovereign member­ economies—Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka—with a population base of 1.12 billion in 1990. (Bangladesh—113.68 million;  Bhutan—1.54 million; India—846.19 million; Maldives—213, 000; Nepal—19.57 million; Pakistan—118.12 million, and Sri Lanka—17.23 million) (United Nations,  1994, p. 108).  The push factor of geo­economics has been evident. In 1985, the Western European economic community adopted the Single European Act. It was evident that the  economic regionalization movement in Western Europe would continue to gather momentum and the rest of the world was anticipating what then came as the  Maastricht Treaty in 1992, followed by the institution of the EU. The ANZ­CER agreement was signed in January 1983. In neighboring Southeast Asia, ASEAN— Indonesia, Malaysia, the Philippines, Singapore and Thailand—encouraged by their achievements of intraregional cooperation since 1967, signed the Bali Declaration in  1976 with a more pronounced intraregional economic agenda. In 1985, Brunei Darussalam became a...

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