What do you understand by SAARC, European Union ASEAN, G-8, G-20?
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- SAARC: The South Asian Association for Regional Cooperation, or SAARC, proposed by Ziaur Rehman, the then-president of Bangladesh, was established on December 8, 1985. It is an association of eight countries of South Asia: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.
- European Union: The European Union (EU) is a union of twenty-five independent states based on the European Communities and founded on 15 November, 1993 to enhance political, economic and social co-operation. The formation of EU, marked by a common market, common currency, abolished passport control, and customs checks were also abolished at many of the EU's internal borders, creating a single space of mobility for EU citizens to live, travel, work and invest.
- ASEAN: Association of Southeast Asian Nations (ASEAN) is a political and economic organization of countries located in Southeast Asia. ASEAN was formed on August 8, 1976 by Thailand, Indonesia, Malaysia, Singapore and Philippines, as a display of solidarity against communist expansion in Vietnam and insurgency within their borders. These countries meet annually.
- G-8: The Group of Eight (G-8) countries consists of Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States. Together these countries represent about 65 per cent of the world economy.
- G-20: The Group of 20(G-20) is a group consisting of 19 of the world's largest economies, together with the European Union. The G-20 was formed as a new forum for cooperation and consultation on matters pertaining to the international financial system. It studies, reviews, and promotes discussion among key industrial and emerging market countries of policy issues related to the promotion of international financial stability.
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