South Asian Association for Regional Cooperation
South Asian Association for Regional Cooperation : SAARC promotes economic, technical, scientific, and social cooperation among members. The Association was founded in 1985 by seven countries: Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. The Association plans to establish a South Asian Preferential Trading Arrangement (SAPTA) by 1997 as a step toward creating an economic community in south Asia