FACTBOX - Politics hobbles trade at Colombo SAARC meet
REUTERS - Trade and terrorism are on the agenda for the 15th South Asian Association for Regional Cooperation (SAARC) summit in Colombo on Aug. 2 and 3.
Here is an overview of the group and its agenda:
HISTORY, AIMS:
- SAARC was established in 1985 by Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka. Afghanistan became the eighth member in 2007.
- Formed to help boost economic growth and trade in one of the world's poorest regions -- home to about 1.5 billion people, tens of millions of whom live in abject poverty -- it has been flayed by critics who say it has remained a talking shop where lofty speeches are rarely translated into action.
TRADE RHETORIC AND REALITY:
- Trade between members did not accelerate in the five years after structured economic cooperation began with the SAARC Preferential Trading Arrangement (SAPTA) in December 1995. Continued...
Dubai Debt Fears
Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets. Full Article | Slideshow










