Question : Which of the following trade agreements aims to 'strengthen intra-SAARC economic cooperation to maximise the region's potential for trade and achieving development for their people'?
Option 1: APTA
Option 2: SAFTA
Option 3: NAFTA
Option 4: LAIA
Correct Answer: SAFTA
Solution : The correct answer is SAFTA.
SAFTA, which stands for the South Asian Free Trade Area, is an arrangement created in 2004 to boost economic growth through trade and commerce among the SAARC countries. Its headquarters is located in Kathmandu, Nepal, and its member countries include Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Sri Lanka, and Pakistan. Its primary aim is to enhance intra-regional trade and cooperation, which can contribute to regional development.
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