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Published by: ntag2020 on Sep 15, 2010
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South Asian Association for Regional Cooperation

Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Sri Lanka

Bhutan. Pakistan and Sri Lanka Other regional experiences highly successful strengthen their competitive position . the Maldives. India.South Asian Association for Regional Cooperation     formally came into existence in 1985 with the adoption of its Charter at the first Summit in Dhaka (7.8 December 1985). seven South Asian countries Bangladesh. Nepal.

and  health and population services  identify other areas of possible cooperation .23 April.Areas of Cooperation (21 . 1981)  first meeting of Foreign Secretaries in Colombo  pursue cooperation in five broad areas  Agriculture  rural development  Telecommunications  meteorology.

technical and scientific fields and strengthening of cooperation among the Member States in international forum on matters of common interest . cultural.Objective     acceleration of economic growth. promotion of active collaboration and mutual assistance in the economic. social. social progress and cultural development in the region.

.The SAARC Secretariat    established in Kathmandu on 16 January 1987. service the meetings of the Association and serve as the channel of communication between SAARC and other international organisations comprises the Secretary General. seven Directors and the General Services Staff. coordinate and monitor the implementation of SAARC activities.

meets at least twice a year formulating policy. reviewing progress of regional cooperation. It meets as often as necessary and reports to the Council of Ministers The Committee on Economic Cooperation consisting of Secretaries of Commerce oversees regional cooperation in the economic field . monitors and coordinates SAARC programmes of cooperation. identifying new areas of cooperation The Standing Committee comprising Foreign Secretaries. approves projects including their financing and mobilizes regional and external resources. represented by head of the states The Council of Ministers comprising Foreign Ministers.Administrative setup      Summits held annually.

Trade and Finance Division Social Affairs Division Information and Publications Division Energy.       Agriculture and Rural Development Division Environment and Science and Technology Division Economic. Tourism Division Human Resource Development. Transport and Treaty Division .

Committee on Economic Cooperation (CEC)       implementation of specific measures. and recommending policies and measures for promoting intra-regional trade. joint ventures. policies and programmes to strengthen and enhance intraregional cooperation in the fields of trade and economic relations. . Its specific functions include analysing inter-regional and global developments evolving joint strategies and common approaches at international forums. industrial complementarity and investments.

SAPTA     South Asian Preferential Trade Arrangement Deals with Tariffs. the Sixth Summit held in Colombo member countires agreed to formulate an agreement to establish a SAARC Preferential Arrangement (SAPTA) by 1997. Agreement on SAPTA was signed on 11 April 1993 and entered into force on 7 December 1995 . Non-Tariff Measures and Direct Trade Measures In December 1991. Paratariffs.

.SAPTA      The basic principles underlying SAPTA are: overall reciprocity and mutuality of advantages so as to benefit equitably all Contracting States. manufactures and commodities in their raw. recognition of the special needs of the Least Developed Contracting States and agreement on concrete preferential measures in their favour. semi-processed and processed forms. taking into account their respective level of economic and industrial development. and trade and tariff policies and systems. and inclusion of all products. negotiation of tariff reform step by step. the pattern of their external trade. improved and extended in successive stages through periodic reviews.

South Asian Free Trade Area (SAFTA)        SAPTA first step towards the transition to a South Asian Free Trade Area (SAFTA) leading subsequently towards a Customs Union. The Agreement on South Asian Free Trade Area (SAFTA) was signed on 6 January 2004 during the Twelfth SAARC Summit in Islamabad. Pakistan and Sri Lanka are to bring down their customs duties to 0-5 % by 1 January 2009 for the products from such Member States. The Agreement into force from 1 January 2006 Trade Liberalisation Programme scheduled for completion in ten years by 2016. the customs duties on products from the region will be progressively reduced. Common Market and Economic Union. The Least Developed Member States are expected to benefit from additional measures under the special and differential treatment accorded to them under the Agreement. . under an early harvest programme for the Least Developed Member States. India.

South Asian Economic Union   Eleventh Summit (Kathmandu.economic cooperation Leaders agreed to accelerate cooperation in the core areas of trade. . 4-6 January 2002) . finance and investment to realise the goal of an integrated South Asian economy in a step-by-step manner.

Technical Committee on Transport Agreement on Investment Agreement on avoidance of double taxation Standards. towards a Customs Union. quality and control group .Current Issues       Working toward creation of SAFTA Leading subsequently. Common Market and Economic Union.


Trade Concessions Number of Products covered and the Depth of Preferential Tariff Concessions agreed to by SAARC Member States in the first three rounds of trade negotiations under SAPTA Country Bangladesh Bhutan India Maldives Nepal Pakistan Sri Lanka TOTAL # Products 572 266 2402 390 425 685 211` 4951 Depth of concessions 10% -15% 10-20% 10-100% 5-15% 10-15% 10-30% 10-75% .

2 To use and develop law as a source and an instrument towards social change for development as well as for building cooperation among the peoples of the region .Objective 1 To bring together the legal communities within the region for closer co-operation. developing understanding. promoting exchange of ideas and dissemination of information.

Trade Fairs First 1996 New Delhi Second 1998 Colombo Third 2001 Karachi Fourth 2002 Kathmandu Fifth 2003 Dhaka .

. manufactures and commodities in their raw.SAPTA shall include all products. semi-processed and processed forms. .SAPTA shall be negotiated step by step. improved and extended in successive stages with periodic reviews.Principles .

(d) Direct trade measures. consist of arrangements relating to: (a) Tariffs.Components SAPTA may. . inter-alia. (b) Para-tariffs. (c) Non-tariff measures.

‡ A need for developing an integrated capital market. ‡ The capital flows within the region should be liberalized to facilitate free movement of capital. which should ensure protection of investments.Conclusion ‡ The South Asian nations should get into an investment agreement. ‡ Investment rules and regulation need to be .

.‡ Extensive co-operation is required in developing infrastructural connectivity and facilitating transit of goods within the region.

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