What is the Full Form of SAFTA?

SAFTA full form is the South Asian Free Trade Area. The SAFTA is a free trade agreement between the members of the South Asian Association of Regional Cooperation (SAARC). This agreement was signed on 6 January 6 2004 and it came into effect on 1 January 2006. The SAFTA agreement was signed to promote and maintain mutual trade as well as economic cooperation within the region. Stay tuned and continue reading to learn more about SAFTA full form!

Also Read: What is the Full Form of UNESCO?

How many countries are in SAFTA?

There are around 8 countries in SAFTA. The members of SAARC are under the SAFTA agreement. This agreement created a free-trade area of 1.6 billion people in Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka. The main aim behind this agreement is to reduce the customs duties to zero level and increase economic cooperation and integration.

Also Read: What is the Full Form of UNO?

What is the main Objective of the SAFTA Treaty?

Mentioned below are the objectives of the SAFTA agreement:

• Promote trade liberalization in the South Asian region.
• It offers a framework for the elimination of tariffs and non-tariff restrictions to trade among SAARC member countries.
• To promote economic cooperation and integration.
• It aids in creating an environment for investment opportunities in the South Asian region.
• SAFTA promote equal trade opportunities and eradicates any kind of discriminatory treatment amongst the member countries. 
• To enhance competitiveness and cooperation in technology transfer, Research and development, and Capacity Building.

NOTE: The exporters of the member countries need to possess a SAFTA certificate to avail reduced or zero tariffs on eligible products.

Also Read: What is NAMA Full Form?

Popular Full Forms

NDRF Full Form	SDRF Full Form	TVD Full Form	MM Full Form
GATE Full Form	SPM Full Form	NSS Full Form	ONGC Full Form
INTUC Full Form	EFPS Full Form	CITU Full Form	SRP Full Form
PET Full Form	ORM Full Form	REC Full Form	IPL Full Form
CWC Full Form	GIC Full Form	IMRB Full Form	UNESCO Full Form

We hope this blog has helped you understand SAFTA full form and everything related to it. If you want to know more, find the 300+ full forms list on our blog. In the world of short forms, you can rely on the Leverage edu page to know about more full forms like this! Connect with us study abroad experts to achieve your international dream today!