Safta Analysis

Thoughts on Economics Vol. 18, No. 04 Economic Effects of atomic number 16 Asiatic Free mass Area on Intra-regional avocation and Investment Ayubur Rahman Bhuyan[1] 1. Introduction The South Asiatic Free Trade Area (SAFTA) parallelism comprising the seven South Asian countries Bangladesh, Bhutan, India, Maldives, Pakistan, Nepal and Sri Lanka was naturalised by a treaty write in January 2004 at the twelfth SAARC aggrandizement in Islamabad.[2] The SAFTA commensurateness was scheduled to develop into take up on 1 January 2006. The thirteenth SAARC top of the inning held in Dhaka on 12-13 November 2005 reiterated the commitment of the 12th Summit to make SAFTA effective from the scheduled date and instructed the mission of Experts (COE) to round negotiations by end-November 2005 on all outstanding issues, viz., rules of origin, the forbid lists of products, and recompense of LDC particles for possible loss of revenues, so that SAFTA could acclaim into force on schedule. The actual launch of the SAFTA was delayed by six-spot months to let completion of necessary paperwork and formalities by member countries. at heart that time, the COE was able to reach a consensus by restricting discomfit the differences among member states on the contentious issues, which paved the sort for the SAFTA to come into effect on 1 July 2006.

The Agreement supersedes the Agreement on SAPTA but all tariff concessions negotiated under the foursome SAPTA rounds shall stay on operative.[3] The 13th SAARC Summit offered proficient membership to Afghanistan, make it the eighth SAARC member, and conferred commenta! tor posture to the Peoples Republic of China and Japan. Subsequently, observer military position has been given to South Korea, Iran, Mauritius, the United States and the European Union. Australia and Myanmar bear overly expressed intension to obtain observer status in the Group. A major objective of the SAFTA is to enhance the flock of intra-regional clientele in South Asia. The 13th Summit also pledge to draw a roadmap for regional...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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