Sharing borders is not a prerequisite for a regional economic block such as SAARC. Increased trade, "free" trade, tax-advantaged movement of goods, services and labor, economies of scale, access to nearby markets, level playing fields, etc are some of the economic goals. There are political and social goals as well, as cooperation on political issues, common social issues, etc can be expected.
That's the theory. In reality something like SAARC, given the countries involved, simply hasn't delivered on its promise. The question is how much more effort should be spent on it.
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