SAFTA Implementation Year Explained
The question asks for the year the South Asian Free Trade Area (SAFTA) agreement came into force. SAFTA is a significant trade agreement among the member nations of the South Asian Association for Regional Cooperation (SAARC).
Understanding SAFTA
- SAFTA stands for the South Asian Free Trade Area.
- It is an agreement aimed at reducing customs duty and trade barriers between the SAARC member countries.
- The primary goal is to promote intra-regional trade and economic cooperation.
- SAFTA was established by the SAARC Charter of Demand in 1992 and the SAARC Preferential Trading Arrangement (SAPTA) was signed in 1993.
- SAFTA itself was signed in 2004.
SAFTA Agreement Commencement
The South Asian Free Trade Area (SAFTA) agreement officially came into force on January 1, 2006. This marked a crucial step towards creating a more integrated economic zone within South Asia.
Key Details
- Agreement Signed: January 2004
- Came into Force: January 1, 2006
- Member Countries: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka (SAARC members).
- Objective: To establish a free trade area, gradually reducing tariff and non-tariff barriers to trade in goods.
Therefore, the correct year SAFTA came into force is 2006.
Important Questions from International Organizations
- In 2025, India assumed the chairmanship of which international body focused on productivity and sustainability during a meeting held in Jakarta?
Which of the following countries withdrew from the International Criminal Court (ICC) in April 2025?
- Which of the following statements with regard to the Shanghai Cooperation Organization (SCO) is/are correct?
1. The official languages of the SCO are Russian and Chinese.
2. The SCO enjoys observer status in the UN General Assembly.
3. The SCO consists of 13 member states.
Select the answer using the code given below : In May 2025, India assumed the chairmanship of which regional organisation focused on productivity enhancement?
- India achieved a historic milestone by winning the presidency of which international organisation for the first time through a ballot process?
