ISLAMABAD, July 26: There are clear indications that the 25-member state European Union is keen to acquire the observer status in the South Asian Association for Regional Cooperation, and it may soon put up a formal request.

“If the current chair of the regional alliance, Bangladesh, receives an application from the EU before a Saarc standing committee’s meeting in Dhaka next week, its case will be considered (in the meeting), diplomatic sources told Dawn on Wednesday.

While there is no official word yet, insiders say it is only a matter of time before the EU approaches the Saarc chair for the observer status. Notably it will be the first regional organisation to do so.

The EU has been interested in strengthening links with Saarc as a regional organisation and remained engaged with it since 1990s.

In 1996, the European Commission and Saarc Secretariat signed a memorandum of understanding on cooperation which provided ground for technical assistance on trade matters from the EC. In 1999, the EU and Saarc agreed to cooperate on improving market access for Saarc products into the EU.