South Asia Association for Regional Cooperation
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.
This report looks at major Customs Unions, Free Trade Areas, and economic
association agreements around the world, with particular attention to any clauses
covering social issues, core labour standards and trade union participation.
A consultative committee on free trade has suggested the government to make urgent political decision regarding its position on bilateral free trade agreement (FTA).
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.
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)