India, Dec. 8 -- Sunday, December 8 was South Asian Association for Regional Cooperation (Saarc) Charter Day. On this day in 1985, seven South Asian countries - India, Pakistan, Bangladesh, Bhutan, Nepal, Maldives, and Sri Lanka - convened in Dhaka and signed a charter to establish Saarc to promote peace, and development in one of the world's poorest and least integrated regions, which has historically been marred by conflicts.

In terms of economic integration, Saarc set ambitious goals, such as the formation of a South Asian Economic Union (SAEU). This would be a trade bloc where all member countries would adopt common policies regarding the movement of goods and a unified external trade policy. Ultimately, Saarc aimed to develop into a...