SAFTA ministerial meeting to focus on implementation

The South Asian Free Trade Agreement (SAFTA) annual Ministerial meeting will focus on the administration and implementation of the agreement, said Director General, Department of Commerce Manel Silva.

She said this year's meeting will be important as many issues pertaining to enhancing trade among member countries will be discussed.

"Reports of sub committees will be reviewed and adopted and directives will be given by the ministers", she said.

The SAFTA Ministerial meeting which was set up in 2006 comprises all trade ministers of SAARC member countries. The ministerial meeting is held annually according to Article 10 of SAFTA.

The meeting held in Kathmandu last year centred around trade issues that needs to be finalised, while attention will be on the implementation of the agreement, elimination of non tariff barriers and para tariff will be discussed.

The Director General said studies done by the Research Institute of India on how to integrate trade in services in SAFTA will be given priority at the meeting. SAFTA focuses on economic integration and enhancement of intra trade between member countries. This year's meeting in Delhi which is the third SAFTA Ministerial meeting concludes today.

The first Ministerial meeting was held in Dhaka in 2006.

Meanwhile, Secretary to the Ministry of Export Development and International Trade S. Ranugge said the Commerce Secretaries' meeting of Comprehensive Economic Partnership Agreement (CEPA) will be held in May to finalise the agreement.

"Though the service sector is a sensitive issue both parties are willing to go ahead in a manner that will be beneficial.

The focus will be to eliminate non tariff barriers", he said.

Ranugge said certain sectors in Sri Lanka will do well if the service sector is opened but technical issues need to be resolved. A reciprocal agreement under the service sector must be made so that both countries will benefit.