The Schedule of Specific Commitments among the SAARC countries under the SAARC Agreement on Trade in Services (SATIS) is expected to be finalised to expand cooperation in service, trade and further deepen the integration of the regional economies soon, officials said.
In this connection, a number of meetings of the SAPTA (South Asian Preferential Trade Arrangement), SAFTA (South Asian Free Trade Area) and SATIS under SAARC are scheduled to be held in Islamabad, Pakistan from July 02 (today) to July 06, 2015, they said.
Discussions will be held to finalise the Schedule of Commitments in the meetings. Once it is finalised, a significant volume of investment is likely to increase in the country's telecommunication and tourism sectors, a high official of the ministry of commerce said.
Proposals of India, Pakistan, Maldives and Bhutan to reduce sensitive list speedily will be considered and agendas with regard to reducing sensitive list in third phase and scrutiny of Rule of Origin under SAFTA will also be discussed in the meeting, he said.
"Bangladesh has already exchanged an offer list of ten service sectors to the member countries of the SATIS requesting them to invest in sectors like telecommunication and tourism," sources concerned said.
Earlier, Delhi requested Dhaka to open up a good number of service sectors including accounting, auditing, urban planning, medical and dental services, advertising, electronic media, rail transport, pipeline transport, construction and related engineering services, education and environment, they said.
Besides, Pakistan, Sri Lanka and Nepal have also submitted their respective request lists to Bangladesh.
Eight South Asian nations, under SAARC, signed the landmark agreement - SATIS - in April, 2010.
Experts said Bangladesh's trade relation with India has been increasing and strengthening significantly day by day. But trade ties with other countries of SAARC are marginal.
They expected that regional trade relation will be more strengthened if it is shaped finally.
SAFTA has entered into force from January 1, 2006 after completion of national ratification by all member countries. Tariff reduction under SAFTA started from July 1, 2006.
SAARC countries have reduced their sensitive lists by 20 per cent in second phase which was effective from January, 2012.Bangladesh's current sensitive list contains 993 products for developing countries and 887 items for least-developed countries (LDCs).
All Bangladeshi products have been enjoying duty-free access to India under SAARC Preferential Trading Arrangement except 25 tobacco, alcohol and narcotic items.
© 2024 - All Rights with The Financial Express
