ORGANIZATIONS FOR REGIONAL ECONOMIC COOPERATION (SAARC, SCO)

One of the most significant developments in the world trading system came up with the emergence of the phenomenon of Regional Cooperation during the 1990s.

This Regional Cooperation,

o   is a way of gaining economic security and developments within the regions involved.

o   helps group remote areas of the world so that the nations by entering into regional agreements can benefit from each other’s assets and resources.

o   facilitates competition among countries and helps them attract more investment and state of the art technology.

SOUTH ASIAN ASSOCIATION FOR REGIONAL COOPERATION (SAARC)

SAARC is an organization for both political and economic cooperation between eight member countries in the South Asian region. Its history and other important aspects are listed below.

1.     Establishment: At Dhaka in 1985

2.     Secretariat: Kathmandu, Nepal

3.    Secretary General: Arjun Bahadur Thapa

4.     Members:

·        India                   ·        Pakistan

·        Sri Lanka            ·        Bangladesh

·        Nepal                  ·        Bhutan

·        Maldives            ·        Afghanistan

5.     Observers:

· Australia, China, The European Union, Iran, Japan, Mauritius, Myanmar, South Korea and the United States of America.

6.     SAARC Recognized Bodies

·        SAARC Chamber of Commerce & Industry

·  SAARCLAW (South Asian Association for Regional Cooperation in Law

·        SAFA (South Asian Federation of Accountants)

·        SAF (South Asia Foundation)

·    SAIEVAC (South Asia Initiative to End Violence against Children

·        FOSWAL (Foundation of SAARC Writers and Literature)

7.     Objectives of SAARC

•       To eliminate all forms of Corruption
•      To fast-track the growth of the economy
•     To promote cultural and social growth of the members
•   To Buildup trust between the regional states and creation of mutual reliance

SHANGHAI COOPERATION ORGANIZATION 

(SCO)

   SCO is basically an organization formed between the governments of six countries whereby Pakistan acts as an observer state. This organization has broadened its goals since the time of its inception and is considered as an essential forum for boosting confidence and strengthening friendly relations among the member states. 

1.    Initially Named as: Shanghai Five (Inclusion of Uzbekistan in 2001 changed the number of member states to 6)

2.     Renamed to: Shanghai Cooperation Organization (2001)

3.     Establishment: At Shanghai in 1996

4.     Two Headquarters:

·        Secretariat: Beijing, China

·Regional Anti-Terrorist Structure (RATS): Tashkent, Uzbekistan

5.     Secretary General: Dmitry Fyodorovich Mezentsev (Russian)

6.     Members: 6 member states

·        China             ·        Russia

·        Kazakhstan    ·        Kyrgyzstan

·        Tajikistan       ·        Uzbekistan
  2 Acceding States 
·         Pakistan 
 ·        India
(Signed memorandum of obligations on  24 June, 2016 at Tashkent)
(Expected to become full members by 2017)

7.     Observers: 4 observer states

·        Belarus          ·        Iran

·        Mangolia       ·        Afghanistan

8.     Objectives of SCO

·        To work on improving the security situation in the member states.

·  To fight the three evils, namely “Terrorism, Extremism and Separatism”.

·       To demilitarize the borders of member states and thus build confidence.

·        To share Intelligence between member states with the purpose of countering all anti state agents.

·        To promote economic initiatives in the region, e.g. Eurasian Economic Union (Lead by Russia) or Silk Road Economic Belt Initiative (Lead by China)

·       To collaborate in order to avoid international conflicts and offer and implement peace solutions.