Asia News

Related Travel Information

India to launch South Asia free-trade pact

India to launch South Asia free-trade pact The Indian cabinet approved on Thursday the introduction of a pact with its neighbours from Jan. 1 to promote free trade and economic ties in South Asia, home to nearly one-fifth of the world’s population. Commerce Minister Kamal Nath said India would initially cut customs duties by five percent for goods imported from Pakistan, Sri Lanka, Bangladesh, Maldives and Nepal after the launch of the South Asia Free Trade Area (SAFTA) agreement. Although some member countries are yet to ratify the pact, Indian officials said New Delhi would go ahead with implementing the agreement from Jan.

Free trade agreement brings hope to southern Asia

Free trade agreement brings hope to southern Asia The landmark South Asian Free Trade Area (SAFTA) agreement, which holds the promise of boosting international commerce and trade in one of the world's poorest regions, officially came into effect yesterday. The free-trade pact is considered to be by far the most important decision taken by the seven-member South Asian Association for Regional Cooperation (SAARC) during its 20-year existence. Nearly 23 percent of the world's population lives in the SAARC region which is just three percent of the world's area. SAARC nations including India, Pakistan, Sri Lanka, Bangladesh, Maldives, Nepal and Bhutan initially agreed to the

South Asia Free Trade Zone Comes Into Effect

South Asia Free Trade Zone Comes Into Effect The South Asia Free Trade Agreement, or SAFTA, came into effect Sunday, paving the way for free trade of goods among the member nations. India's Commerce Minister Kamal Nath said implementation of the accord will benefit the entire region - a home to 1.5 billion people. Under the agreement, the more developed member countries - India, Pakistan and Sri Lanka - will reduce their customs duties to between zero and five percent by the year 2013. Less developed Bangladesh, Bhutan, the Maldives and Nepal have until 2018 to do the same. Leaders of the South Asian

US, Southeast Asia sign trade, liberalisation pact

US, Southeast Asia sign trade, liberalisation pact The United States and 10 Southeast Asian nations signed a trade and investment agreement on Friday that opens the door to possible free-trade talks. US trade representative Susan Schwab signed the trade and investment framework agreement in Malaysia with the 10 member states of the Association of South East Asian Nations (Asean). The can-do spirit of the members of Asean reflects the can-do spirit we are so proud of in the United States, Schwab told reporters after signing the pact. The Tifa with Asean represents an important step forward in the trade relationship

KCCI, BCCI sign EU Asia investment tripartite pre-project agreement

KCCI, BCCI sign EU Asia investment tripartite pre-project agreement KARACHI, November 29 (Online): Karachi Chamber of Commerce and Industry (KCCI) and Birmingham Chamber of Commerce and Industry (BCCI) signed EU Asia Investment Tripartite Pre-project Agreement at a local hotel here on Monday. President KCCI Haroon Farooqi, BCCI Head Jonathan Weber and BBCI Chief Executive Officer Sue Battle signed the agreement in presence of Deputy Head of Mission British Deputy High Commission Karachi Ron Rimer and Consul General of Italy in Karachi Bruno Pasquino. The project launched under tri-partite agreement between UK, Pakistan and Italy will be completed in two years. The