ISDS Case Map
SAFTA
The way India has traditionally managed its border areas - security being the prime concern - will undergo a radical change this year with the Cabinet Committee on Security clearing a revamp of the infrastructure at major land borders to facilitate trade and commerce.
In what is being described as a success for India and a "failure and punishment for Pakistan" on the economic diplomacy front, India has formed a regional trading bloc excluding Islamabad, and including all the SAFTA members, besides Thailand.
A new study says Bangladesh should sign Free Trade Agreements (FTAs) with India and Pakistan, but fails to identify what the FTAs would have in addition to South Asia Free Trade Area (SAFTA).
Export of fruits, vegetables, meat and fish could soon become easier with the commerce ministry proposing a draft legislation on export of perishable goods.
India on Thursday termed Pakistan's move to include an additional 302 items in its positive list for trade with India as a ploy to continue to deny the MFN status for India. New Delhi sees this as a clear violation of the Safta pact and would take up the issue in the Safta meet next month.
India has undertaken a study of its existing free trade agreements (FTAs) like Safta and the proposed ones like Asean FTA and Southern African Customs Union FTA.
The center of gravity of the world economy was shifting to South Asia but opportunities of this regional dynamism could only be harnessed if the region integrated.
The service sector has emerged as one of the major contributors in the global Gross Domestic Product (GDP) and trade. On an average, while services account for more than 70% of GDP in developed countries and 50% in developing countries, their share in global exports have grown from 15% to nearly 25% over the last two decades. In the case of South Asia too, the share of services in GDP and trade has increased.
India is likely to get the support of least developed country (LDC) members of the Safta in its fight against Pakistan's refusal to implement the agreement in its letter and spirit.
Although Bangladesh and Pakistan have agreed to sign a free trade area deal by September this year, the two countries are yet to start negotiations.
