The Full form of SAARC is South Asian Association for Regional Cooperation. The SAARC is an economic and geopolitical intergovernmental organization of eight countries which are located in South Asia. Its member states are India, Bangladesh, Bhutan, Nepal, the Maldives, Afghanistan, Pakistan and Sri Lanka. The secretariat of the SAARC is based in Kathmandu, Nepal.
It is the 3rd largest economy of the world in terms of GDP after USA and China and the 8th largest in terms of nominal GDP. As of 2015, the SAARC compromises 3% of the world’s area, 9.12% of the global economy and 21% of the world’s population. The SAARC was formed in the late 1970s, the seven south Asian countries included India, Bangladesh, Sri Lanka, Nepal, Bhutan, Pakistan, Maldives and Afghanistan agreed upon the creation of trade bloc to provide a platform for the people of South Asia to work together in the spirit of friendship, trust and understanding.
This idea was first raised by Zia Ur Rahaman on 2nd May, 1980 and the first summit was held in Dhaka on December 8, 1985. There are five main objectives behind forming SAARC and these are; Human Resources development, Population and health related activities, Rural and agriculture development, Science, Technology and Telecommunication and Transport.