18th SAARC summit 18th SAARC summit[/caption] Prime Minister Narendra Modi on Wednesday proposed a Saarc business traveller card for making it easier for traders and merchants in the region to travel and access one another�s markets. According to Modi, intra-regional relations become stronger as connectivity is increased and people-to-people contacts encouraged. He said this will also provide for boosting opportunity for tourism in the region. The 18th SAARC summit is being held in Kathmandu, Nepal. About SAARC : The South Asian Association for Regional Cooperation (SAARC) is an economic and geopolitical organisation of eight countries that are primarily located in South Asia.
The SAARC Secretariat is based in Kathmandu, Nepal.
The combined economy of SAARC is 3rd largest in the world in the terms of GDP(PPP) after the United States and China and 8th largest in the terms of GDP(Nominal).
SAARC nations are having 3% of world’s area and in contrast having 21% (Around 1.7 Billion) of world’s total population
The idea of regional political and economical cooperation in South Asia was first raised in 1980 and the first summit was held in Dhaka on 8 December 1985, when the organisation was established by the governments of Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.
Since then the organisation has expanded by accepting one new full member, Afghanistan, and several observer members.
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