Public-Private Sector Collaboration within a Multilateral Framework among SAARC Nations

Abstract

The South Asian Association for Regional Cooperation (SAARC) is mandated for poverty alleviation through trade and economic co-operation in the region. It did not gain momentum up to the desired level. Intra-SAARC trade remained low even after 23 years of SAARC's inception. The foreign direct investment (FDI) among the SAARC region is very negligible. Intra-regional investment depends on the capability to pursue deep integration and economic connectivity. Our previous efforts to boost intra-regional trade through South Asian Preferential Trade Arrangement (SAPTA) did not meet with success because of some factors like inter-country barriers to trade, rampant informal trade, high tariff, non-tariff barriers, absence of harmonisation of standards, non-simplification of customs clearance procedures, non-simplification of banking procedures, barriers to intra-SAARC investment and inadequate transport infrastructure.