Regional and Other Economic Organisations

Alongside these global institutions, countries in the same region cooperate through regional bodies suited to shared geography and development concerns.

SAARC (South Asian Association for Regional Cooperation) was established in 1985, with its Secretariat in Kathmandu, Nepal. Its members are India, Pakistan, Bangladesh, Sri Lanka, Nepal, Bhutan, Maldives, and Afghanistan. Its objectives include promoting the welfare of South Asian peoples, accelerating economic growth and social progress in the region, strengthening collective self-reliance, and encouraging mutual trust and cooperation among member states. SAARC's flagship trade initiative is the South Asian Free Trade Area (SAFTA), aimed at progressively reducing tariffs among member countries.

ASEAN (Association of Southeast Asian Nations), formed in 1967, is a comparable regional grouping among Southeast Asian countries (Indonesia, Malaysia, the Philippines, Singapore, Thailand, and others), promoting regional economic integration and political-security cooperation — India engages with ASEAN through dialogue-partner and free-trade arrangements rather than as a member. …