The basic principles underlying SAFTA are as under; overall reciprocity and mutuality of advantages so as to benefit equitably all Contracting States, taking into account their respective level of economic and industrial development, the pattern of their external trade, and trade and tariff policies and systems; negotiation of tariff reform step by step, improved and extended in successive stages through periodic reviews; recognition of the special needs of the Least Developed Contracting States and agreement on concrete preferential measures in their favour; inclusion of all products, manufactures and commodities in their raw, semi-processed and processed forms. Contracts involving trade operated by states, supply and import assurance in respect of specific products etc. It involves agreement on tariff concession like national duties concession and non-tariff concession. Objective[ edit ] The main objective of the agreement is to promote competition in the area and to provide equitable benefits to the countries involved.
Export to Bangladesh Bangladesh is one of the largest export markets for Indian trade. The bilateral trade between the two nations is carried out as per guidelines given in the Bangladesh Trade Agreement which provides beneficial arrangement for the use of waterways, railways and roadways passage of goods between two places in one country through the territory of the other.
Major items exported from India to Bangladesh include wheat other cereals, dairy products, oils meals, cotton yarn, fabrics, made ups, petroleum crude and products, plastic and linoleum products rice machinery and instruments and primary and semi finished iron and steel, pulses transport equipments drugs pharmaceuticals and fine chemicals processed mineral manmade yarn, fabrics, made ups manufactures of metal and fresh fruits and vegetables.
All the export transactions are carried out in Indian Rupees and Bhutanese Ngultrum. Major items exported from India to Bangladesh include metals machinery and instruments, machine tools transport equipments, electronics goods rice other than basmatispirit and beverages, miscellaneous processed items primary and semi finished iron and steel and cereals.
Under this agreement Indian major exports itmes to Maldives include rice other than basmati, sugar, fresh vegetables, miscellaneous processed item, drugs, pharmaceuticals and fine chemicals plastic and linoleum products, manufactures of metals and machinery equipment.
Export to Pakistan No trade agreement has been signed between India and Pakistan till Indian exports to Pakistan are restricted to a list items known as Positive List and include rice other than basmati, spices, oil meals, iron ore, drugs, pharmaceuticals and fine chemicals rubber manufactured products except footwear, plastic and linoleum products, manufactures of metals and petroleum crude and products.The South Asian Free Trade Area (SAFTA) is an agreement reached on January 6, , at the 12th SAARC summit in Islamabad, Pakistan.
It created a free trade area of billion people in Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka (as of , the combined population is billion people).
The Foreign Trade of Bangladesh: Its Composition, Performance, Trend, and Policy Mohammad Mafizur Rahman Abstract Despite structural limitations in the Bangladesh economy, the export sector performed well throughout the s.
Trade Agreement (PTA), India-Bangladesh, India-Bhutan FTA, India-Maldives PTA, India- Nepal PTA, India-Pakistan and India-Sri Lanka Free Trade Agreement (ISFTA).
Share of SAARC’s Trade with India as a Proportion of Total India Trade with World. Introduction The policy of trade liberalization and free-market economy in the s has created both challenges and opportunities for Bangladesh economy. TRADE RELATIONS WITH SAARC COUNTRIES AND TRADE POLICIES OF BANGLADESH M.
Kabir Hassan * This paper attempts to provide a synopsis of Bangladesh trade with the South Asian Association for Regional Cooperation (SAARC) countries and of its policies regarding bilateral and global trade.
A Brief Analysis on India’s Trade with SAARC Countries: Recent Trends.
By Dr. B. Ambrose & Mr. P. Sundarraj. Annamalai University, India. Abstract- The analysis of trade between the countries is an interesting phenomenon in international trade.
Analyzing the trend is some more interesting. In this study an analysis is made between India and SAARC.