SAARC

 It is the regional intergovernmental organization and geopolitical union of nations in South Asia.

 Afghanistan, Bangladesh, Bhutan, India, Nepal, the Maldives, Pakistan and Sri Lanka are its members.

 Its secretariat is based in Kathmandu, Nepal.

 The organization promotes development of economic and regional integration.

 It launched the South Asian Free Trade Area (SAFTA) in 2006.

 SAFTA was envisaged primarily as the first step towards the transition to a South Asian Free Trade Area (SAFTA) leading subsequently towards a Customs Union, Common Market and the Economic Union.

 SAARC maintains permanent diplomatic relations at the United Nations as an observer and has developed links with multilateral entities, including the European Union.

 States with observer status include Australia, China, European Union, Iran, Japan, Mauritius, Myanmar, South Korea and United States.