SAARC is a regional intergovernmental organization established in 1985 with 8 member countries in South Asia. It aims to promote economic and regional cooperation among the countries. Key areas of cooperation include agriculture, rural development, science and technology, health, and poverty alleviation. SAARC has signed several conventions on issues like terrorism, narcotics, and mutual legal assistance. However, it faces challenges like internal disputes between members and a lack of resources and technologies.