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

* []
* []
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