SAFTA meeting to begin in Thimphu on Thursday

Dignitaries from the member countries begin to arrive at the capital Thimphu to participate in the ministerial-level meeting of South Asian Free Trade Agreement (SAFTA) that begins on Thursday.

Though the progress on free trade in the region is on snail’s pace, SAARC member countries continue to engage in facilitating and accelerating the process.

India plans to propose the setting up of a South Asian Development Bank, similar to that of Development Bank established by BRICS countries, for financing infrastructure development in the region.

The trade ministers will also discuss a SAARC Motor Vehicle Agreement and a Railways Agreement that would allow movement of containerised traffic in the region without loading and unloading at borders.