Area of Cooperation
Economic and Trade
The acceleration of economic growth is a Charter objective of SAARC. Cooperation in the core economic areas among SAARC Member Countries was initiated following the Study on Trade, Manufactures and Services (TMS), which was completed in June 1991.
Currently, the following important processes of SAARC are promoting cooperation in the field of Trade, Economy and Finance, and related areas:
Committee on Economic Cooperation: Overall Coordination of cooperation in economic areas;
SAFTA Committee of Experts and SAFTA Ministerial Council: Administration and implementation of SAFTA;
Finance Ministers Mechanism: Cooperation in the field of Finance and related areas;
Standing Group on Standards and SAARC Standards Coordination Board: Cooperation in the field of harmonization of Standards;
Group on Customs Cooperation is dealing with issues related to harmonization of Customs rules and procedures.