Public-Private Sector Collaboration within a Multilateral Framework among SAARC Nations
5 Pages Posted: 15 Jun 2009
Date Written: June 13, 2009
The South Asian Association for Regional Cooperation (SAARC) is mandated for poverty alleviation through trade and economic co-operation in the region. It did not gain momentum up to the desired level. Intra-SAARC trade remained low even after 23 years of SAARC's inception. The foreign direct investment (FDI) among the SAARC region is very negligible. Intra-regional investment depends on the capability to pursue deep integration and economic connectivity.
Our previous efforts to boost intra-regional trade through South Asian Preferential Trade Arrangement (SAPTA) did not meet with success because of some factors like inter-country barriers to trade, rampant informal trade, high tariff, non-tariff barriers, absence of harmonisation of standards, non-simplification of customs clearance procedures, non-simplification of banking procedures, barriers to intra-SAARC investment and inadequate transport infrastructure.
Keywords: SAFTA, SAARC, RTA, South Asia
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