South Asia Free Trade Agreement
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 current state of play in the Doha Round negotiations underlines the importance of stronger bilateral and regional trading agreements for India. As of now, India has concluded trading agreements with Sri Lanka, Thailand and Singapore. In the regional context, Safta and Bimstec are yet to really takeoff.
Move over World Trade Organization (WTO), regional trade arrangements are here to rule.
There has been a spate of trade agreements signed between countries in recent years - from the same region and even beyond. And this may not necessarily have to do with the fact that it has been a tough going for the multilateral trading system. Regionalism may have its own dynamics.
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.
Sri Lanka’s Commerce Department says all recently started trade negotiations will go on hold over the rest of the year, until priority commitments are sorted out.
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.
A Comprehensive Economic Cooperation Agreement (CECA) between India and Singapore has been signed on the 29th June in New Delhi by the Prime Ministers of two countries.
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.
The Bangladesh commerce ministry is going to consultants to run a study to identify the benefits and possible risks of signing any bilateral 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.
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.
The Centre on Saturday warned that any misuse of the Free Trade Agreements (FTA) would lead to criminal prosecution of those involved in such practice.
Pakistan and Sri Lanka have exchanged diplomatic notes to formalize the annextures in bilateral Free Trade Agreement (FTA) with a view to its operationalization between the two countries.
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.
The government has started a series of consultations with industries to have a clear-cut idea about the sectors that can enjoy the benefits of the SAFTA and BIMSTEC deals.
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.