South Asia: World's Fastest Growing Region

The World Bank (WB) has named South Asia as the fastest growing region in the world (in 2016). However, the global lender said that the region is the least integrated in the world, thus, preventing South Asian countries from benefitting from intra-regional trade.

In its latest report (published on November 5), Asia Foundation stated that the South Asian countries should consider the WB's view before preparing their future trade policies. According to the report - titled: "South Asian regionalism: what hopes after SAARC meltdown?", less than 5% of South Asia's trade takes place within the region and it shows the region is least integrated in the world. "In comparison, intra-regional trade in the ASEAN region is around 30%, the European Union (EU) around 60% and continental Africa around 12%. This stands as a regional loss ready to cut-short South Asia's rare moment at the top...