18th SAARC Summit held in Kathmandu, Nepal
The theme of the summit was Deeper Integration for Peace and Prosperity.
18th South Asian Association of Regional Cooperation (SAARC) summit was held at Rastriya Sabha Griha Sanandan Raj in Kathmandu, Nepal from 26 November 2014 to 27 November 2014.
The theme of the summit was Deeper Integration for Peace and Prosperity. The summit was focused on enhancing connectivity between the member states for easier transit-transport across the region.
The Nepalese Prime Minister Sushil Koirala hosted the event.
The summit took place after an interval of three years. The last summit was held in 2011 in Maldives. The next summit will now be held in Islamabad in 2016.
During the summit, the leaders signed an agreement on energy cooperation namely SAARC Framework Agreement for Energy Cooperation, SAARC Regional Railway Agreement and SAARC Motor Vehicle Agreement.
The South Asian Association for Regional Cooperation (SAARC) is an economic and geopolitical organisation of eight countries that are primarily located in South Asia. Eight members are Afghanistan, Pakistan, India, Bangladesh, Bhutan,Maldives, Nepal, Sri Lanka.
The SAARC Secretariat is based in Kathmandu, Nepal. The combined economy of SAARC is 3rd largest in the world in the terms of GDP (PPP) after the United States and China and 8th largest in the terms of GDP (Nominal).
SAARC nations are having 3% of world's area and in contrast having 21% (around 1.7 billion) of world's total population.