Professional Documents
Culture Documents
SAARC
SAARC
A Preview To SAARC
Established on December 8, 1985 Formally adopted its charter providing economical & social progress Cultural development in south Asia region Meetings are held annually For foreign secretaries its twice per annum Headquartered in in Kathmandu, Nepal
Objectives @ a glance
Welfare and improving Quality of Life to South Asia people Accelerate economic growth, social progress cultural development Providing opportunity to live in dignity and realize full potential Promote and strengthen self reliance among South Asia Contribute towards natural trust, understanding and appreciation Adapt collaboration and mutual assistance in economic, social, cultural, technical and scientific field Improve co-operation with developing countries Allow co-operation through international forums Maintain peace in the region
Objectives:
Promote and sustain mutual trade Develop economic co-operation among developing countries
On grounds of Principles
Mutuality and benefits in accordance with the economy and industrial level Development in focus with external trade and tariff policies Negotiate tariff reforms step by step Analyzing concrete preferential measures Contribution of incremental trend in product coverage Deepening of tariff concessions over previous rounds Four rounds of trade negotiations concluded under SAPTA covering over 5000 commodities
Main Components
Tariff Para Tariff Non Tariff Direct Trade Measures
SAFTA @ Now
In 1993 it was established SAFTA agreement reached on 6th Jan, 2004 12th SAARC summit held in Islamabad, Pakistan Seven foreign ministries signed framework agreement on SAFTA SAFTA requires developing countries to bring their duties down to 20% in 1st phase By 2016, reduced tariff to zero
The Purpose
Encourage and elevate common contract among countries Contracts involving trade operated by states, supply and import assurance in respect of specific products Involves agreement on tariff concession like national duties concessions and non tariff concession
Objectives
Promote good competition in FTA Provide equitable benefits to all countries Bringing transparency and integrity among nations Increase level of trade and economic integration Reducing tariff and barriers Special preferences to LDCs among SAARC nations
Instruments
Trade Liberalization Program Rules of Origin Institutional Agreements Consultation and Disputes Settlement Procedures Safeguard Measures Any other instrument that may be agreed upon
Bibliography
www.nirvana.org www.saarc-sec.org www.mapsofworld.com www.southasiafoundation.com www.sdc.gov.in www.saarctrade.info