ISLAMABAD: The Commerce and Trade Ministers of South Asian Association For Regional Cooperation (SAARC) emphasized the member states to reduce their respective Sensitive Lists under South Asia Free Trade Area (SAFTA)for facilitation of trade in the region.The ministers made these remarks in the 6th meeting of SAFTA Ministerial Council (SMC) held here on Thursday and was attended by Commerce and Trade Ministers of SAARC member states.They said that Member States were in the process of reducing their Sensitive Lists and Member of States also agreed to reduce Sensitive Lists in the coming years.
The ministers appreciated that the SAARC Agreement on Trade in Services has been signed by all the member states and work is being done on finalization of schedule of specific commitments under the agreement.
They underscored the significance of services trade in the SAARC region.The leaders stressed that the schedule of specific commitments under the services agreement should be finalized and notified.
The meeting also discussed obstacles to trade due to the presence of Non-Tariff Measures and Para Tariff Measures (NTM and PTMs) and decided that list of NTM and PTMs already submitted by Member States should be re examined.
It was agreed that a special meeting of the Committee of Experts (COE)will discuss the NTMs and PTMs before forwarding it to the relevant organization to be resolved.
The leaders also agreed on further relaxation of SAARC visa regime. They underlined the fact that without free movement of people across the border in the SAFTA region, trade would not flourish in the region.
On Trade Liberation Programme (TLP) under SAFTA, the meeting discussed the matter of timely issuance of Customs notifications for implementation of TLP under SAFTA.
The meting emphasized that the Member states should issue their respective customs notifications at least for the year 2012.
Realizing the importance of infrastructure in the SAARC region, the leaders emphasized the need for intra-regional connectivity through construction of road and rail and air networks.(APP)
The ministers appreciated that the SAARC Agreement on Trade in Services has been signed by all the member states and work is being done on finalization of schedule of specific commitments under the agreement.
They underscored the significance of services trade in the SAARC region.The leaders stressed that the schedule of specific commitments under the services agreement should be finalized and notified.
The meeting also discussed obstacles to trade due to the presence of Non-Tariff Measures and Para Tariff Measures (NTM and PTMs) and decided that list of NTM and PTMs already submitted by Member States should be re examined.
It was agreed that a special meeting of the Committee of Experts (COE)will discuss the NTMs and PTMs before forwarding it to the relevant organization to be resolved.
The leaders also agreed on further relaxation of SAARC visa regime. They underlined the fact that without free movement of people across the border in the SAFTA region, trade would not flourish in the region.
On Trade Liberation Programme (TLP) under SAFTA, the meeting discussed the matter of timely issuance of Customs notifications for implementation of TLP under SAFTA.
The meting emphasized that the Member states should issue their respective customs notifications at least for the year 2012.
Realizing the importance of infrastructure in the SAARC region, the leaders emphasized the need for intra-regional connectivity through construction of road and rail and air networks.(APP)
