SAFTA proposal for duty cuts placed before cabinet
10 Jan '06
1 min read
The text of South Asia Free Trade Area (SAFTA), to approve duty cuts in the trade agreement, has been forwarded to the cabinet, said Humanyun Akhtar, Federal Minister for Commerce.
SAFTA will come into effect in the current year and duty cut is scheduled to be implemented this year from July, Humanyun Akhtar told traders at a meet.
Presently, reduced duty of 3.5 points, on all items exported to Europe and a reduced duty of 20 points payable on textile and apparel, is in force under the Generalized System of Preferences, he said.
He also stressed that national industrial parks be set up allover the country.
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