Is a South Asian economic union viable?
From the economic point of view, there is hardly anything to suggest that a South Asian economic union is unviable. The problem lies mainly in the political domain. Expansion of regional trade would promote production specialisation, efficiency and improved quality of exports, which benefit countries participating in the regional cooperation effort. Joint ventures can pool regional resources to promote industrialisation and economic growth in South Asia. Since the South Asian countries have collectively gained substantial experience in agro-based industries, textiles and clothing, paper and pulp, and light engineering, there is scope for joint ventures in these areas. The establishment of joint ventures would particularly benefit small South Asian countries, as they lack the resources to undertake industrial investments efficiently. Such integration would make all countries in the region more competitive globally. There would, of course, be areas where some countries might lose out, th
