SAARC is a regional intergovernmental organization established in 1985 with 8 member states in South Asia. It aims to promote economic and regional cooperation as well as ensure collective prosperity and peace. Key objectives include fostering welfare, economic growth, cultural relations and understanding between member states. Major bodies include the SAARC Secretariat, Council of Ministers, Standing Committee and various technical committees. Key areas of cooperation are trade, agriculture, environment, poverty alleviation and combating issues like terrorism, human trafficking and narcotics. Regular summits are held to review cooperation and set new directives.