Regional Integration

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The South Asian region is of strategic significance between the east and west concerning defense, trade, transport, population growth, and financial growth. Internationally, regionalism has come to be extensively acknowledged as a principal framework for economic development through cooperative engagement, predominantly in the context of spreading globalization. One of the conspicuous features of international politics since 1945 is the creation of regional organizations on the basis of shared vision and common benefits as well as geographical contiguity. These relations on the basis of shared interests have resulted in the establishment of several regional organizations.

SAARC is one such manifestation of an increasingly interdependent world. The idea behind the formulation of SAARC was to encourage peace, harmony, and financial growth through the collaboration of South Asian states. It also aimed at sharing the accessible resources, building trust among parties, and enabling partnership through dialogue and communication between leaders. South Asia is a region intricately knitted together with a shared history, culture, people-to-people contacts, and religious traditions A cohesive and integrated regional economy accelerates the economic development of member countries. Besides, member countries can also enjoy improved influence in dealing with the global systems of finance, investment, and trade. Membership in the regional blocks also provides protection when it comes to dealing with the challenges of shifts in the global political economy. This leads us to appreciate the fact that regional cooperation is crucial for the prosperity of the South Asian Region. Economic interdependency and synergy lead to the resolution of conflicts rooted in political differences.

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