More promises, more pledges. That’s how one can sum up the SAARC summit that concluded the other day in Maldives. The regional organisation has never been known for its efficiency but has been considered a mere formality. This however may change with the conclusion of its 12th summit in Addu. Major stakeholders of the region – India, Pakistan and Afghanistan – are seen opening new chapters in their bilateral and multilateral relations, among many other important measures to promote regional cooperation, stability and trade.
One of the nagging issues that have kept the organisation from delivering optimally is a lack of proper economic relations framework that visualises free trade and does away with non-tariff barriers. A silver lining is though visible as the two largest economies of the region, Pakistan and India, have agreed to open up to each other on this front. Terrorism and security are also a weak link in this chain. None of the member countries can develop unless it has peaceful relations with the other. Afghan and Pakistani authorities need to overcome their differences soon in order to make the region a true regional power hub on the line of Euro zone.
For economic and political clout, China wants to upgrade its observer status to dialogue partner. The demand does carry some weight as China has invested heavily in many of the member countries. Moreover, its inclusion would boost the clout of the organisation at the international level. With two of the world’s fastest growing economies in this organisation, the issues of trade, finance, investment, and capital flow can be handled in a much better and comprehensive manner.
Other such regional entities, such as SCO and ECO, also make a case study for the SAARC as to how it can improve and perform better. While Pakistan and India wield influence in the region, no progress is possible without peace between the both. Same is true for terrorism and trade related issues. The Addu Declaration is a step in the right direction as it can help build bridges between member states for a South Asia that is truly a power hub, economically and politically.