To prevent improper import of pepper from other countries taking advantage of preferential access under the India-Sri Lanka Free Trade Agreement (ISLFTA) and Agreement on South Asian Free Trade Area (SAFTA
), Sri Lankan Authorities were requested to exercise extreme care and diligence in issuing the Certificate of Origin.
meeting used to be postponed from time to time.
"SAPTA was superseded by the South Asian Free Trade Area (SAFTA
) in 2006.
'In this regard, I would like to stress the need to effectively utilize Trade platforms and trade promotion events while effective utilization of SAFTA
agreement can prove beneficial for both countries', he added.
The preferential access granted by Pakistan on 82.1% of tariff lines under Safta
was partially blocked in the case of India because Pakistan maintained a negative list comprising 1,209 items that could not be imported from India, it noted.
The report recommends ending sensitive lists and para tariffs to enable real progress on SAFTA
and calls for a multi-pronged effort to address non-tariff barriers, focusing on information flows, procedures, and infrastructure.
. In Pakistan, nearly 20pc of its imports from, and 39pc of its exports to, South Asia fall under sensitive lists.
signatory countries are Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.
Now, we try to explore, with the help of an augmented version of the gravity model, whether the formation of regional trading arrangements (RTAs) like SAFTA
serves to promote the magnitude of trade or not and if so, then whether the intra-bloc trade (3) is substantially accelerated vis-a-vis the effect of extra-bloc trade creation.
SAARC has been successful in enabling the establishment of the South Asian Free Trade Agreement (SAFTA
First, to estimate the impact of institutional and non-institutional arrangements on bilateral trade, and second to analyse the impact of SAFTA
on bilateral trade in the short as well as in the long run.
A successful South Asia Free Trade Agreement (SAFTA
) can achieve the overall goals of rapid trade integration, economic growth and poverty reduction.