The South Asian Association for Regional Cooperation (SAARC) is an intergovernmental organisation that promotes development of economic and regional integration. Founded in 1985, in Dhaka, Bangladesh, SAARC based its secretariat in Kathmandu, and launched the South Asian Free Trade Area in 2006, creating free trade area for 1.6 billion people. The members of this geopolitical union in South Asia are Afghanistan, Bangladesh, Bhutan, India, Nepal, the Maldives, Pakistan, and Sri Lanka. SAARC maintains permanent diplomatic relations with the United Nations as an observer and has also developed links with multilateral entities, including the European Union.