Future-of-Eco-Coop-in-SARRC-Countries

Implications of Bilateral and Sub-regional Trade The paper analyses the impact of bilateral trade and multilateral trade agreements amongst SAARC countries on their agreements with the developed countries. Multilateral agreements for economic development contribute to socio-economic development of individual states and enhance regional cooperation. Bilateral agreements for economic development may contribute to regional cooperation in the long run but in the short run negatively affect a country which is less competitive, less informed, has a weak marketing system. In the long run most states may increase their capacity, strengthen marketing networks, improve competitiveness and improve trade by linking with comparative advantage, which may raise overall production, reduce inefficiencies and increase total trade thereby enhancing income levels, interdependence and regional harmony amongst member states