2015 · Q42
Which of the following is not true for SAFFA (South Asian Free Trade Area)?
General KnowledgeIndian Economy
- AIt is a step towards a South Asian customs union and common market.
- BThe agreement came into effect in 2006.
- CThe SAFTA is a trade liberalisation regime.
- DThe SAFTA agreement takes precedence over any other agreement a member country may have with states outside SAFTA.
Explanation
SAFTA is a step towards a South Asian customs union and common market, came into effect in 2006, and is a trade-liberalisation regime — so A, B and C are true. But the SAFTA agreement does not take precedence over any other agreement a member country may have with states outside SAFTA. Statement D is not true.