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Article: SAARC summit and SAPTA. (South Asian Association of Regional Cooperation; SAARC Preferential Trading Agreement)
- Article from:
- Economic Review
- Article date:
- May 1, 1995
- Author:
CopyrightCOPYRIGHT 1995 Economic and Industrial Publications. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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It augurs well that seven member states - Bangladesh, Bhutan, Maldives, Nepal, Pakistan and Sri Lanka - of SAARC (South Asian Association of Regional Cooperation) in a summit meeting in New Delhi between May 2 to 4 have agreed on preferential trade arrangement known as SAARC Preferential Trading Arrangement (SAPTA) to be ratified by November 8, so that it could become operational by December 8 - SAARC's tenth anniversary. The proverb "better late than never" is applicable here as at long last the leaders of SAARC countries have come to some understanding on mutual economic cooperation among themselves.
South - South cooperation has, no doubt, remained a fantasy ...