{"id":30054,"date":"2025-02-12T06:11:06","date_gmt":"2025-02-12T00:41:06","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=30054"},"modified":"2025-04-09T14:51:23","modified_gmt":"2025-04-09T09:21:23","slug":"safta","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/safta\/","title":{"rendered":"SAFTA"},"content":{"rendered":"<h2>SAFTA Latest News<\/h2>\n<p>Recently, the Solvent Extractors\u2019 Association of India (SEA) has requested the Government to regulate the inflow of edible oils from Nepal and other SAARC countries due to misuse of SAFTA norms.<\/p>\n<h2>About SAFTA<\/h2>\n<ul>\n<li>It is the free trade arrangement of the South Asian Association for Regional Cooperation (SAARC).<\/li>\n<li>The agreement came <strong>into force in 2006,<\/strong> succeeding the 1993 SAARC Preferential Trading Arrangement.<\/li>\n<li><strong>SAFTA signatory countries:<\/strong> Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.<\/li>\n<li>SAFTA recognizes the need for special and differential treatment for LDCs in its preamble. This has been translated in the following measures:<\/li>\n<li>The Objectives of this Agreement are to promote and enhance mutual trade and economic cooperation among Contracting States by, inter-alia:\n<ul>\n<li><strong>Eliminating barriers to trade<\/strong> in, and facilitating the cross-border movement of goods between the territories of the Contracting States;<\/li>\n<li><strong>Promoting conditions<\/strong> of <strong>fair competition<\/strong> in the free trade area, and ensuring equitable benefits to all Contracting States, taking into account their respective levels and pattern of economic development;<\/li>\n<li><strong>Creating effective mechanism<\/strong> for the implementation and application of this Agreement, for its joint administration and for the resolution of disputes; and<\/li>\n<li>Establishing a framework for <strong>further regional cooperation<\/strong> to expand and enhance the mutual benefits of this Agreement.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2>SAFTA FAQs<\/h2>\n<p><strong>Q1:<\/strong> What do you mean by SAFTA?<\/p>\n<p><strong>Ans:<\/strong> The South Asian Free Trade Area (SAFTA) is the free trade arrangement of the South Asian Association for Regional Cooperation (SAARC).\u00a0<\/p>\n<p><strong>Q2:<\/strong> Where is the headquarters of SAFTA?<\/p>\n<p><strong>Ans: <\/strong>Kathmandu, Nepal.<\/p>\n<p><strong>Q3:<\/strong> What are the two objectives of SAFTA?<\/p>\n<p><strong>Ans: <\/strong>The main objectives of SAFTA are as follows: To promote trade liberalization in the South Asian region.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.thehindubusinessline.com\/economy\/agri-business\/sea-urges-centre-to-regulate-edible-oil-imports-from-nepal-due-to-misuse-of-safta-norms\/article69202782.ece#:~:text\" target=\"_blank\" rel=\"nofollow noopener\">BL<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SAFTA is the free trade arrangement of the South Asian Association for Regional Cooperation (SAARC).<\/p>\n","protected":false},"author":5,"featured_media":30055,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-30054","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/30054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=30054"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/30054\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/30055"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=30054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=30054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=30054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}