The first meeting of the Commerce Ministers of the SARC countries, accepting a proposal made by Nepal, has stressed the need for improvement of transport and transit infrastructures to give effect to the Preferential Trading Arrangement. Nepal was represented at the meeting held in New Delhi on January 8-9 by Commerce Minister Fateh Singh Tharu.

A joint statement issued after the meeting notes that in the current economic scenario, trade and economic cooperation are essential constituents of the economic development strategy of SAARC member states.

Welcoming the coming into effect of the SAARC Preferential Trade Arrangement (SAPTA), the communiqué reiterates member states’ commitment to accelerate the SAARC process, including full implementation of all provisions of the agreement and to the realization of the South Asian Free Trade Area preferably by the year 2000 but not later than 2006 AD.

People’s Review, 18 January 1996.