Economics Trade Agreements Questions
The South Asian Preferential Trade Agreement (SAPTA) is a regional trade agreement among the member countries of the South Asian Association for Regional Cooperation (SAARC). It was established in 1995 with the aim of promoting trade and economic cooperation among the South Asian countries. SAPTA provides for the reduction of tariffs and other trade barriers among member countries, with the goal of eventually establishing a South Asian Free Trade Area (SAFTA).