SAARC and beyond: South Asia and broader regionalism in Asia-Pacific

As slowdown becomes the new normal for advanced economies, the traditional locomotives of the world economy, and as the centre of gravity of the world economy shifts eastwards, regionalism within and between subregions becomes a critical strategy for sustaining the Asia-Pacific region’s dynamism. For subregional groups, it is important to adopt a long-term vision and take incremental steps to achieve goals. ASEAN, for instance, has successfully moved towards the goal of the ASEAN Economic Community, achieved by 2015 in advance of its initial 2020 target. In SAARC’s case, an Eminent Persons Group back in 1999 proposed a long-term vision of a South Asian Economic Union to be achieved by 2020. SAARC now has the opportunity to revisit those proposals and articulate a vision and deadline. ECO could develop a similar vision for itself.

Sustainable Development Goals:

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions