South Asia Free Trade Agreement
The three-day meeting of the South Asian Association for Regional Cooperation (SAARC) sub-group on Investment and Arbitration beginning today in Kathmandu seeks to further the understanding among member states to set up an investment regime and adopt a dispute settlement mechanism in order to increase economic cooperation throughout the region.
Countries across the globe are realising the importance of regional
trading blocks. The South Asian countries too have now felt the urgency of such an arrangement.
Bangladesh needs bilateral free trade agreements (FTAs) with major south Asian nations to get maximum trade benefits from South Asian Free Trade Area (Safta), Commerce Minister Amir Khosru Mahmud Chowdhury said yesterday.
When the seven SAARC members signed the free trade agreement (SAFTA) in January 2004, there was some scepticism regarding its progress and implementation, given that SAARC itself had been mired under inter-state tensions.
Following is the text of Agreement on South Asian Free Trade Area (Safta) signed at the 12th Saarc Summit, concluded here on Tuesday: Agreement on South Asian Free Trade Area (SAFTA)
Can the South Asian Free Trade Agreement lead to an economic union? By all counts, and indications, such a union is still a distant dream.