Saarc members unlikely to meet Safta deadline

ISLAMABAD — The members of the South Asian Association for Regional Cooperation (SAARC) are not expected to meet the deadline to finalise negotiations in the four areas for implementation of the South Asia Free Trade Area (SAFTA) accord from January 1, 2006. Informed sources said that the Committee on Experts (CoPs) on SAFTA —technical team of the member countries entrusted with a task to complete negotiations in eight rounds by end May 2005.

By From A Correspondent

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Published: Wed 29 Jun 2005, 10:18 AM

Last updated: Thu 2 Apr 2015, 2:49 PM

The sources said that in the eighth meeting held in Nepal last month, the CoE failed to make any headway particularly on the issue of rules of origin, revenue compensation mechanism — a unique facility pledged for the least developed members.

The agreement on SAFTA was signed at the Twelfth SAARC Summit on January 6, 2004 in Islamabad and was to enter into force on January 1, 2006.

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