Liberalization of Trade Regimes and Enhancing Trade Between Countries of South Asia: Roadblocks, Pitfalls and Overcoming Hurdles

… there will have to be no hegemon, nor ganging up by the small against the big-one.

Bhurban Declaration, 15–20 May 2005, Islamabad–Bhurban

South Asia is well known for various diversities. While the population of Bhutan or Maldives is below a million each, India is home to over a billion people. Over four-fifths of the region’s economic output is produced in India. Five of the eight SAARC members are least developed countries, while India, Pakistan, and Sri Lanka are known as developing ones. Regional economic cooperation in such a diverse region is difficult.1

Historically, regional cooperation begins with trade ...

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