Solution

Different countries throughout the world are driven to join regional and international economic groupings like SAARC, the European Union, ASEAN, etc. with the aim of discovering various ways and techniques to develop their economies. The creation of such regional and economic associations enables the member nations to learn about the policies and tactics for development used by other nations. This gives them the opportunity to assess their strengths and weaknesses and, as a result, create policies to hasten social advancement and cultural growth among its member nations. Second, maintaining peace and stability among the member nations is a key reason why these organizations were formed. Additionally, these organizations offer a forum for people to speak out together on related problems in order to protect their rights.