India for increased intra-SAARC trade to beat slowdown

Nishikant Dwivedi
Kathmandu, Oct 28 (PTI) India Wednesday asked its South
Asian neighbours to increase intra-regional trade as a cushion
against slowdown in exports to the US and European markets.

Addressing the South Asia Free Trade Area (SAFTA)
Ministerial Council here, Indian Commerce and Industry
Minister Anand Sharma said with the recession in the developed
markets, all SAARC member-nations would have witnessed a
slowdown in their exports.
"This challenge reaffirms our need for greater intra-
regional trade integration," he said.
In the last five years since signing of the SAFTA, the
intra-regional trade in South Asia accounts for only 4.31 per
cent of its total international trade.
For instance, out of India's total global trade of USD
483 billion for 2008-09, its engagement with the South Asian
Association for Regional Cooperation (SAARC) countries was
merely USD 10 billion.
Sharma also urged Pakistan and Sri Lanka to prune their
negative list for the least developed countries.
He said India would soon implement reduction in import
tariff for non-least developed countries (NLDCs) like Sri
Lanka and Pakistan. PTI NKD
ANU


The information contained in this electronic message and any attachments to this
message are intended for the exclusive
use of the addressee(s) and may contain proprietary, confidential or privileged
information. If you are not the intended
recipient, you should not disseminate, distribute or copy this e-mail. Please
notify the sender immediately and destroy
all copies of this message and any attachments contained in it.