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Comparison

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Submitted By tmfahim25
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Introduction:
SAARC, NAFTA and EU are the three regional organizations situated in three different continents Asia, North America and Europe respectively. Among them EU is well establish governance system with a unique parliament comprise by the member state. SAARC and NAFTA are not having a governance system compare to EU. In the economic perspective NAFTA is the largest trade bloc in the world in terms purchasing power parity. EU is holding the second positive and SAARC is comparative weak in all aspect than the two.
South Asian Association for Regional Cooperation (SAARC):
The South Asian Association for Regional Cooperation (SAARC) is an economic and geopolitical organization of eight South Asian nations. Ex-president of Bangladesh, Ziaur Rahman was the one who made a formal proposal on May 2, 1980. The first SAARC summit was held in Dhaka on 8 December 1985, when the organization was established. Afghanistan is the only new inclusion that happened since SAARC was established. Every decision SAARC takes and every policy it frames is guided by the overall objectives it had set for itself in the charter. Although promoting “welfare economics” and “collective self-reliance” among the South Asian nations are the commonly quoted objectives, yet there are some equally important focus areas which need a mention. “Accelerating economic growth” and cultural development in South Asia is one of the priorities, which come under the broader goal of improving quality of life.
Ref: Francesco Obino, SAARC: The Political Challenge for South Asia and Beyond.
North American Free Trade Agreement (NAFTA):
NAFTA is the North American Free Trade Agreement, a treaty between Canada, Mexico, and the United States that has been in effect since 1 January 1994. The agreement was designed to increase trade among the three nations by reducing or eliminating restrictions on commerce, such

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