Read the passage given below carefully and answer the questions that
follow:
The South Asian Association for Regional Co-operation (SAARC) is a major regional initiative by the South Asian states to evolve co-operation through multilateral means. It began in 1985. Unfortunately due to persisting political differences, SAARC has not had much success. SAARC members signed the South Asian Free Trade Agreement (SAFTA) in 2002 which promised the formation of a free trade zone for the whole of South Asia.