· http://www.ibnlive.com/article.php?id=2969§ion_id=7
Finally a trade agreement, the SAFTA, that would further economic development in this part of the world. Something that would make the economies of the SAARC countries not depend on the western market!
What would work in great favour of the eastern countries is a deal on the lines of the European Union. Single market, customs, agricultural policies, and the common trade policy of course which the SAFTA hopes to reach.
The first thing that may bother is the fact that member countries have severe relations with one another, don’t get along basically. But if you see, the EU, has countries like Turkey, which are willing to join such a common policy. Hmm, agreed opposition for this will be lots, and each country will have their issues, nevertheless the system would definitely promote growth on all sides. More importantly it will make our economies less dependent on the western world!
Now looking at the cultural implications this will have. Won’t it make a lot more sense to promote our culture and learn about the other’s as well, courtesy the common union for the nations, rather than cribbing about how “westernised” our society has become?! Taking into consideration how little we know about other eastern cultures compared to what we know about the English and the Yankees! [Generalisation, error, if made, regretted]
How about seeing a common tourism policy? A common passport that would allow us to enter any of the member countries without having to buy a separate one for each country? Singapore and Malaysia have the system, as well as Australia and New Zealand, if am not mistaken.
On the flip side, one may wonder as to why the eastern world needs to bind? Hmm, all I can say is why not? It worked/ is working well in the west, despite various shortcomings, so try and see, we may find that we needn’t have to depend on the white man’s shoes, and see greener pastures in our neighbours.
South Asian Economic Union will surely be a key player in integrating the economies of the SAARC nations. Free flow of trade will allow maximum benefit and profit for the consumer and the seller. That’s my opinion. Whether it will happen, will be unearthed…. Vision 2020…
… [Apologies and reference to Sir KalamJ]
[Certain statements are what I expect from the proposed SAEU, and may not be feasible outcomes, hypothetical yet practical
…ramsdom:D and also, considering my limited knowledge in the field of economics, I regret, in advance, any factual errors made.]
Forgot to add some points in the original post:
· However much we compete among ourselves to gain a wider market in the west, I still think it makes sense to compete to get a market here itself, it would be healthier! Again, problems have arisen by China treating our country as a dumping ground; ways to improve the situation must be deciphered. And quality over quantity could do the trick.
· Work permits too, can be made universal.
· There are “severed” relations with nations, like our own world famous tiff with Pakistan, religious unity is always a distant dream, however we can promote trade relations at least. But I still am sceptical about a healthy relation with Pakistan wrt trade itself, considering the talks are heading no where! The January round of talks, just hope they have some substance!
· IT industry, a point that was raised when I was talking with IcEyeZ. He said “The Chinese. Are ready to work more economically than us for their services before the US cud capitalize on them. Indian IT services company themselves are planning to invest in China once again eliminating West…out of it” I don’t agree with the former. I seriously think Indians are competing at the same level as the Chinese. As for the Indian companies investing in China, a progressive move.