South Asia
Md. Umran Bin Kamran Chowdhury, Gulshan, Dhaka
The concept of a pan-South Asian organisation has been emerging for the past few years and has been slowly gathering momentum. The present regional grouping Saarc has so far failed to be effective in any significant form of regional co-operation. Considering the new global political, economic and strategic context, regions with high economic potential, such as South Asia, should organise themselves towards better integration, rather than just cooperation. The European Union, the Association of South East Asian Nations or Asean and the African Union stand as testimony to this fact. South Asian nations, most of which are Least Developed Countries or LDCs, have enormous potential to develop their economies. Every country has its own unique advantages. The region can become a Mecca for foreign investment in the energy, power, IT, tourism, media, telecommunications, construction, aviation sector etc. The establishment of a South Asian Economic Community can further boost the prospects for growth and perhaps so can a single currency or central bank. The trading bloc can become an influential and vital economic powerhouse. However, what makes South Asian nations differ are mainly political issues, notably the Indo-Pak dispute over Kashmir. But if the countries commit themselves to making sincere efforts to resolve these issues, I am certain the obstacles can be removed. The need for a united South Asian organisation is also felt in maintaining stability, promoting cultural ties between peoples, injecting more egalitarianism and social justice into societies and, most importantly, reducing poverty. Free trade can have disadvantages in some cases but the long term and overall picture has proven to be positive which strengthens the need for a pan-South Asian organisation. Therefore, the concept should be considered by South Asian nations if they are truly committed to achieving economic and social prosperity.
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