Readers of this blog will from now on find business news related to Korea, Japan, China and even USA. You may wonder that these countries are not situated in South Asian and my blog is about South Asia only. The SAARC Standing Committee held a two day long meeting in Dhaka, capital city of Bangladesh. The committee members have agreed on principle to grant USA and South Korea observer status to this South Asian association. The committee members have also prepared a 4-point guideline to help China and Japan get observer status to the South Asian Association for Regional Cooperation (SAARC). The committee members also finalized the draft of a Joint Declaration that would enable Afghanistan to become a full member of SAARC. Afghanistan will sign the document next year's SAARC Summit to be held in New Delhi, India.
This new development will surely generate pace in South Asia. The interest of economic giants like USA, Korea and Japan clearly indicates the growing importance of South Asia in world economy.
SAARC was founded in 1985 with 7 members- Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.
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