South Asia Association for Regional Cooperation
The South Asian economies including Bangladesh are becoming more and more regional trade-prone and they are going for bilateral free trade agreements (FTAs) alongside regional arrangements like South Asian Free Trade Area (SAFTA).
The BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) free trade agreement is expected to come into force from July 1 this year, the Bangladesh Parliament was told Sunday.
Will the seven countries of the South Asian Association for Regional Cooperation (SAARC) be able to sink some of their deep differences over political issues to enhance trade relations?
South Asian Free Trade Area (SAFTA), paving way for free trade of goods among countries of the region, came into being on Sunday but Pakistan was yet to complete the formality of ratifying it.
With three days left to meet the deadline, the trade under South Asia Free Trade Agreement (Safta) among the Saarc counties from January 1, next year is in doldrums as Sri Lanka says it will ratify Safta draft some time in April next year.
BIMSTEC (Bangladesh-India-Myanmar-Sri Lanka-Thailand Economic Co-operation) Trade Ministers will sign a free-trade deal on goods at their Dhaka meet early next year.
When was the last time you heard Indian Prime Minister Manmohan Singh talk about the World Trade Organisation?
While the temptation exists to conclude as many FTAs as possible - in line with the global trend - India’s aspirations to become a global power will not amount to much unless it defends its exclusive zone of influence in South Asia against China.
The Committee of Experts of the South Asian Association for Regional Cooperation (SAARC) have decided to meet for yet another round and forward the outstanding issues of South Asia Free Trade Area (SAFTA) to political level for final decision, a Nepali government official said Wednesday.
With the start of free trade agreement between Pakistan and Sri Lanka, the annual trade volume between the two countries was likely to double within the first year due to the increase in trade in tea, textiles, betel leaves and other items.
Bangladesh has once again outright rejected an Indian proposal for signing Free Trade Agreement (FTA) with her, urging the counterpart to sign the proposed South Asia Free Trade Agreement (SAFTA) for boosting the regional trade and commerce.
The Bangladesh Ministry of Commerce has decided to engage consultants to conduct a study and identify benefits and possible risks of signing bilateral trade agreements like Free Trade Agreement (FTA) with neighbouring countries.
Bangladesh, Pakistan and India continue to get locked in the niceties of negotiations on exchange of tariff concessions, particularly for competing products such as textiles at a time when less than six months are left for the agreement on South Asia Free Trade Area (Safta) of the seven-member South Asian Association for Regional Cooperation (Saarc) to come into operation.
Bangladesh has decided to appoint an international trade consultant to vet trade proposals with South Asian countries to ensure they are beneficial for Dhaka.
Much though economic integration is desirable, the SAARC nations will first have to create a politically harmonious subcontinent, and that is a formidable task. The ball is now in India’s court. It must take frantic efforts to wipe out elements of mistrust, shun big brotherly attitude and help restore confidence among its neighbours.
With India entering into Free Trade Agreement (FTA) with Sri Lanka and other SAARC countries, a number of vanaspati manufacturers have shifted their production base there to avail concessions, sounding a death-knell for the domestic industry by rendering it non-competitive.
We need to guard against attempts by vested interests to discourage South-South trade and to divide the economic unity of South Asia.
Pakistan has signed its first Free Trade Agreement (FTA) with Sri Lanka.
The postponement of the Dhaka Summit of Saarc, twice over the past two months, is a setback for the fledgling process of economic integration in South Asia. But that should not prevent India from taking unilateral initiatives for promoting industry and supply capacities in its neighbours, especially Bangladesh.
The government will not move ahead with trade negotiations with any party before the South Asian Free Trade Area (Safta) gets implemented on January 1, 2006.