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| Pakistan agrees to implement SAFTA in totality | | |
NEW DELHI, APR 4
Facing criticism for dilly-dallying on SAFTA, Pakistan today came around to the majority view of SAARC leaders agreeing that the regional free trade agreement should be effected in "letter and spirit".
The SAARC Declaration at the conclusion of the two-day summit said the Heads of State or Government "emphasized that SAFTA should be implemented in letter and spirit". It also called for finalisation of an agreement in services at the earliest.
The Declaration, unanimously adopted by all the leaders including Pakistan Prime Minister Shaukat Aziz, said that "effective market access through smooth implementation of trade liberalisation programme" be ensured. The implementing organs of the South Asia Free Trade Area (SAFTA)Agreement shoul d review the progress of opening the markets among each other.
While the SAFTA was operationalised in July, 2006, Pakistan has not implemented the pact retaining the 'positive' list of items (restricting imports) from India citing that New Delhi has not lifted non-tariff barriers (NTBs).
However, Pakistan could not give any specific instance of NTB.
In the backdrop of growing importance of the services sector in the overall GDP of the regional economies, the Declaration said SAFTA should integrate trade in services.
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