Abstract
The study compares the socioeconomic development of the South Asian Association of
Regional Cooperation (SAARC) to that of the Association of Southeast Asian Nations
(ASEAN). SAARC was established on December 8, 1985, as a result of former President
Ziaur Rahman’s efforts to promote the welfare of the people and mutual trust. ASEAN
was founded in August 1967 with the goal of accelerating the region’s economic growth,
social progress, and cultural development while also promoting regional peace and
stability. The SAARC countries share problems such as poverty and unemployment.
SAARC countries have a GDP per capita four times that of ASEAN. A qualitative
analysis based on secondary data pertaining to SAARC and ASEAN reveals that
SAARC has not been more successful than ASEAN. National and international conflicts
are common within SAARC. SAARC has 22% of the world’s population and 3% of the
world’s economy, and there are enormous opportunities for economic growth and
human development.
https://fass.ubd.edu.bn/SEA/vol22-2/Challenges%20and%20Potential%20of%20SAARC.pdf