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BASIRAHMED (Pursuing Research in West Asian andAfricanStudies, School of international Studies, Jawaharlal Nehru University, NewDelhi110067) The recently concluded 13more than one sense. For the first time it has been witnessedthat, there is anagreement among all the heads of state upon ensuring strong andsubstantiveregional cooperation. It is well in tune with the demands created by theinternationaleconomic developments. It partly explains South Asias urge toemerge as a copartner in,what honorable prime minister of India called AsianResurgence. Reconnecting thesubcontinent has become all more important due tothe changing economic fundamentals ofthe world trade. Tariff wars, hiddensubsidies, trade monopolies, and various othertrade distorting practices whichexist in the world trade composition today, demands thatthe developingcountries of South Asian region must look for a regional economic union.Thecost-effective future of South Asia undoubtedly lies in a regional market.South Asian common promote, besides meeting the domestic needsat low andaffordable cost shall provide economic stability. Self reliant growth iswhat isimportant for the region at present and SAARC as an association forregionalcooperation can go a long way in this direction. The recent consensusamong member stateover South Asian economic union is a good gesture. SouthAsian economic unionwill also undoubtedly help in bringing down the intra stateand inter stateconflicts. However this is not to say that the geopoliticaltensions which currently engulfs theentire region will die out, but simply toput in that, given the current momentum, it isgeo-economics which shallincreasingly define the inter and intra state relations andshall impinge moreand more upon the regional tensions. Bilateral Free Trade and AgreementsbetweenIndia and Sri Lanka, India and Nepal, Sri Lanka and Pakistan, is agoodprogression towards a common market. SAARC must speed up the initiatives onregionalintegration. Given the dynamism and improved political climate, itwould be easier todraw significant benefits. SAARC must consolidate theexisting bilateral Free TradeAgreements and fast initiate course towards SouthAsian Economic Union. SAARC should also insist on strengthening the physical,legaland technical infrastructure. Without it full realization of SouthAsianEconomic union is not possible. If South Asia wants to fully integrate inthe global market asa major trading bloc, addressing the infrastructuralproblem would be crucial for it.South Asia constitutes a largest consumerconglomerate in the world. It can use thisadvantage to address theinfrastructure development challenges of the region. Theincoming foreigninvestment which largely comes mainly due to its being a largest consumercan bedirected towards infrastructure sector. The induction of Afghanistan as a newmember of SAARC shallfurther help in its consolidation. Culturally andeconomically Afghanistan fitsinto the region, there was no point in keeping itoutside. However, the greatest benefit thatthis step might entail, is thatthere is a probability that Afghanistan could in the long run,emerge as abridge to Central Asia. Inviting China and Japan to become as observers,byaccording them observer Status shall certainly enrich SAARC and add a newdimension tothe regional trade and investment. China and Japan are the fastestgrowing economiesof the region. They can help in SAARCs common venture towardsself and sustainablecommon growth. There are two basic challenges confrontingthe entire region,poverty and terrorism. SAARC member states have also focusedon these issues at itsrecent Dhaka summit. Though the issue of poverty has beenon SAARCs agenda for aquiet long time, there has not been any substantialprogress. The recent Dhakadeclaration has gone in for instituting a fund and amechanism to work collectively bydedicating a decade towards the implementationof poverty eradication plans. It needs to besupplemented with genuine andsincere efforts. There is a close link betweenpoverty, unemployment andinstability, address poverty and growth will take care ofitself. The menace ofterrorism is another important issue which came up. Terrorism not onlyhaseconomic consequences but also have huge social implications. Migration,highmortality etc. had a direct impact upon growth and stability of the entireregion. Insecurity oflife and livelihood restricts development. Therefore, inorder to control terrorism it isimportant that the terrorist infrastructure isdismantled and their hideouts busted. Forthis to happen, there is a need of ajoint and coordinated action backed by political willamong member states. SAARCmust take fast track initiatives to ensure it. References: Reconnect the subcontinent: Manmohan, Chandrika moots South Asian Economic Union, Leaders agree to enhance cooperation, th SAARCsummit at Dhaka has been a landmark eventinThe Hindu, Nov13, 2005, NewDelhi.TheHindu, 13, 2005, NewDelhi.TheTimes of India,14 Nov, 2005, NewDelhi. |