(i) It facilitates free movement of goods, services and investments within ASEAN by creating a single regional market like the European Union.
(ii) It provides free access to the marketers of one member country to the markets of all other member countries, thus fostering growth in the region.
(iii) It improves business competitiveness between businesses from different countries and also narrow developmental gaps between member countries.
(iv) It paves way for market and investment opportunities for the member nations.
(v) It fosters co-operations in many areas including industry and trade.

The following are the objectives of the World Bank:
1. To help member countries for economic reconstruction and development.
2. To stimulate long-run capital investment for restoring Balance of Payments (BoP) equilibrium and thereby ensure balanced development of international trade among the member nations.
3. To provide guarantees for loans meant for infrastructural and industrial projects of member nations.
4. To help war ravaged economies transform into peace economies.
5. To supplement foreign private investment by direct loans out of its own funds for productive purposes.

(i) Basic Credit Facility:
The IMF provides financial assistance to its member nations to overcome their temporary difficulties relating to balance of payments. A member nation can The IMF provides financial assistance to its member nations to overcome their temporary difficulties relating to balance of payments. A member nation can purchase from the Fund other currencies or SDRs, in exchange for its own currency, to finance payment deficits. from the Fund other currencies or SDRs, in exchange for its own currency, to finance payment deficits.
(ii) Extended Fund Facility
Under this arrangement, the IMF provides additional borrowing facility up to 140% of the member’s quota, over and above the basic credit facility.
(iii) Compensatory Financing Facility
IMF established compensatory financing facility to provide additional financial assistance to the member countries, particularly primary producing countries facing shortfall in export earnings.
(iv) Buffer Stock Facility
The purpose of this scheme was to help the primary goods (food grains) producing countries to finance contributions to buffer stock arrangements for the stabilisation of primary product prices.
(v) Supplementary Financing Facility
Under the supplementary financing facility, the IMF makes temporary arrangements to provide supplementary financial assistance to member countries facing payments problems relating to their present quota sizes.
(vi) Structural Adjustment Facility
The purpose of Structural Adjustment Facility (SAF) and Enhanced Structural Adjustment Facility (ESAF) is to force the poor countries to undertake strong macroeconomic and structural programmes to improve their balance of payments positions and promote economic growth.

(i) The establishment of SAARC Preferential Trading Agreement (SAPTA) and reduction in tariff and non - tariff barriers in imports.
(ii) The setting up for Technical Committees for economic co - operation among SAARC countries relating to agriculture, communication, education, health, population, rural development, science and technology, tourism etc.
(iii) SAARC was established a three - tier mechanism, for exchanging information on poverty reduction programmes.
(vi) SAARC agricultural information centre(SAIC) in1988 works as central information institution for agriculture related resources like fisheries, forestry etc.
(v) South Asian Development fund (SADF) for development projects, human resource development and infrastructural development projects