Page 406 - SSB Interview: The Complete Guide, Second Edition

France and Netherlands rejected the EU constitution treaty in
referendums held in May and June 2005 respectively.

SOUTH ASIAN ASSOCIATION FOR REGIONAL

COOPERATION (SAARC)

The member countries of SAARC have geographical proximity and relations
based on culture, ethnicity and economics. SAARC represents 1.4 billion
people — one-fifth of the world’s population. It is also home to one-fifth of

the world’s consumers with an average yearly income of $450. The SAARC
region with a total market size of 1.5 billion people, has enormous potential
for intra-regional trade and cross-border investment. The SAARC region is

among the poorest regions, of the world. The region has 44% of the world’s
poor. According to a World Bank report, more than 500 million people in the
South Asian region live below the poverty line. The South Asian region has

more than 50% of the total world population of child workers.

Background

SAARC came into existence in December 1985, at Dhaka, Bangladesh. The
members are India, Pakistan, Sri Lanka, Bangladesh, Nepal, Bhutan,
Maldives and Afghanistan. The secretariat is located at Kathmandu.

Main Objectives laid down by the SAARC Charter

To improve the quality of life and promote the welfare of the peoples of
South Asia.

To accelerate economic growth, social and cultural development in the
region

To promote self-reliance among countries of the South Asian region.