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In a context when less than 10% of the region's internal trade takes place under SAARC Free Trade Area it is imperative to look for ways to make SAFTA work. In recent times Track 2 initiatives, in the context of SAARC, like the South Asian Forum have put forward following recommendations-
3. Enhancing connectivity across borders.
4. Creation of a South Asian brand
5. Liberalized visa regime for businesses & freedom to invest across borders.
7.6. SAARC: Comparative Assessment
♤ As compared to other regional organizations SAARC is deemed to be an under performer.
♤ Least integrated Region: When compared to other regions at the global level, South Asia is one of the least integrated regions of the world (as compared to Europe or South East Asia), as also argued by the World Bank.
♤ Political issues between member countries have constantly superseded SAARC’s economic interests. The SAARC has not been able to significantly further economic integration. Nor has it been able to enhance trade considerably.
♤ The volume of Intra SAARC stands at 5%, in contrast EU countries trade about 66% of their goods and services in their region, NAFTA reaches 53%, while ASEAN reaches 25%.