South Asian Economic Union
- South Asian Economic Union
South Asian leaders called for setting up for SAEU at end of the 14th SAARC summit in New Delhi, 2007.
Steps To Create A Economic Union
*First Step: Setting up "Preferential Trade Agreement" and/or reduce customs.
*Second Step: Setting up a "Free Trade Area".
*Third Step: Setting up a united "Customs Union".
*Fourth Step: Setting up a "Free Market" where labour and capital can freely move.
*Fifth Step: Setting up a "Economic Union".
Status of South Asian Countries to Become an Economic Union
*First Step: Done.
*Second Step: In the process of being completed.
*Third Step: Not done. Seems to be very difficult for SA countries as different countries have very different ideas and beliefs.
*Fourth Step: Not done. Seems a very difficult step for SA countries.
*Fifth Step: Not done. Will probably take a very long time to accomplish this. Probably will not be possible for decades.
ee also
*South Asian Association for Regional Cooperation
*South Asia Free Trade Agreement
External links
* [http://www.freshnews.in/saarc-proposes-south-asian-economic-union-condemns-terrorism-2221]
* [http://www.indiadaily.com/editorial/1592.asp]
* [http://www.prothom-alo.org/mcat.news.details.php?nid=MzQ1MDE=&mid=NA=]
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