South Asian Free Trade Agreement and the Possibility of Regional Integration within the SAARC: A Historical, Legal and Economic Analysis

Abstract

Preferential trading exchanges have been a very common phenomenon in today's world. FTAs and RTAs are growing so fast that many academics are arguing that they are creating obstacles towards WTO's multilateral trade liberalization. Although seven nations in the South Asian region have recently executed an FTA, the progress of regional cooperation in this region is rather dismal. The purpose of this paper is to analyze SAFTA and discuss the prospect of more meaningful cooperation within the SAARC.