ISDS Case Map
SAARC
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.
