CSS 2022 Solved Current Affairs Past Papers | Poverty & Trade in South Asia and SAARC
The following question of CSS Current Affairs 2022 is solved by Sir Ammar Hashmi, the best Current Affairs Coach, on the guided pattern of Sir Syed Kazim Ali, which he taught to his students, scoring the highest marks in compulsory subjects for years. This solved past paper question is uploaded to help aspirants understand how to crack a topic or question, how to write relevantly, what coherence is, and how to include and connect ideas, opinions, and suggestions to score the maximum.
Question Breakdown
This question requires a discussion of poverty and trade in South Asia with the role of SAARC.
Outline
1-Introduction
2-Poverty in South Asia
3-Trade in South Asia
4-Role of SAARC in South Asia
5-Conclusion
Answer to the Question
Introduction
The World Bank estimates that 350 million people in South Asia are living in extreme poverty, making it one of the world’s poorest regions. In addition, this area is well-known for its wealth of natural resources, advantageous position, and trading potential. However, tackling poverty is essential to realizing the region’s trade potential because trading and poverty are interconnected. The eight member countries of the South Asian Association for Regional Cooperation (SAARC) are Afghanistan, Bangladesh, Bhutan, India, Maldives, Pakistan, Nepal, and Sri Lanka. SAARC is a regional intergovernmental organization. To foster social progress, economic cooperation, and cross-cultural exchanges among its member nations, SAARC was founded in 1985. SAARC primarily aims to encourage investment and trade among its member nations. SAARC primarily aims to promote investment and trade among its member nations. However, trade barriers and political conflicts among member nations have curtailed regional trade.
Poverty in South Asia
Around 350 million people in South Asia live on less than $1 per day, which is the worldwide benchmark for extreme poverty, accounting for 29% of the world’s population living in extreme poverty. The eight targets that comprised the Millennium Development Goals were signed by UN member states in 2000. They stated their main objective was to reduce poverty by half by 2015. However, poverty is made worse by illiteracy, population growth, and inadequate health care. Four of every five impoverished people in the South Asian area lived in India, according to the 2018 Poverty and Shared Prosperity Report. India has the greatest population in the world, with 1.3 billion people; however, there is a high absolute number of impoverished people (175.7 million), even with a 13.42% poverty rate. Although Bangladesh has made great strides in ending poverty, the country still ranks second in the region with 24.4 million impoverished people. Pakistan, which has a larger population than Bangladesh but 9.9 million impoverished people, comes in third. South Asia is home to a significant poverty rate.
Trade in South Asia
Trade is essential to the economic dynamics of the region. The economies of South Asia are varied, with manufacturing, services, and agriculture all playing significant roles. At 5% of the region’s total trade, intra-regional trade in South Asia is still comparatively small compared to other nations. Trade barriers, political unrest, and logistical difficulties are some of the causes. The South Asian Free Trade Area (SAFTA), created by SAARC, intends to do away with tariffs on goods traded within the region. Intraregional trade is still slow, and SAFTA progress has been sluggish. Additionally, the South Asia Free Trade Agreement, which was decided upon during the 12th summit in Islamabad in 2006, has not yet come to pass because of:
- Insufficient faith in Indo-Pak ties,
- Low meeting frequency; the previous one was cancelled in 2016.
South Asian developing nations (India, Pakistan, and Sri Lanka) are required by SAFTA to reduce their tariffs to 20% in the first year of the two-year agreement in 2007. The final five years, which concluded in 2012, will see yearly reductions from the 20% charge to zero. Nepal, Bhutan, Bangladesh, Afghanistan, and the Maldives—the least developed nations in South Asia—have an extra three years to lower their tariffs to zero. SAFTA’s goals include:
- Removing trade obstacles and promoting the free flow of goods across international borders,
- Enabling the circulation of products across international borders between the contracting governments’ territories,
- Ensuring that all contracting nations receive equal advantages and fostering conditions of fair competition in the free trade area
- Establishing an efficient system for this agreement’s execution and application, joint administration, and dispute settlement,
- establishing a structure for more regional collaboration to increase and improve the benefits that both parties receive from this agreement
Role of SAARC in South Asia
The geographical union of South Asian states and regional intergovernmental organizations is known as the South Asian Association for Regional Cooperation or SAARC. As of 2023, the SAARC made for 4.21% of the world’s GDP, 21% of the world’s population, and 3% of the world’s land area. The world’s least integrated area is South Asia. SAARC has established the following objectives:
- Strengthen the basis for collaboration within the region,
- Quicken the nation’s social and economic growth,
- Advance the causes of stability, progress, and harmony in the area.
SAARC has started several programs to encourage regional economic growth and poverty eradication. The SAARC Poverty Alleviation Program seeks to lower poverty through social protection policies and income-generating initiatives. Other examples include the SAARC Development Fund, which offers financing for development projects in member nations. Potentially, the SAFTA had presented a fantastic chance to advance South Asian integration. However, due to some innate flaws, it hasn’t been carried out precisely as intended. Even with a free trade agreement since 2006, just 5% of all commerce is between South Asian countries. They only share a few power and transit connections.
Conclusion
South Asia, home to 350 million people in severe poverty, is known for its abundant natural resources, strategic location, and trading potential. Established in 1985, SAARC promotes social progress, economic cooperation, and cross-cultural exchanges. Despite trade barriers and political conflicts, SAARC encourages investment and trade among its member nations. Trade restrictions and logistical challenges have hindered SAFTA’s efforts to remove tariffs.
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