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The South Asian Association for Regional Cooperation. Through multilateral means the SAARC members signed the South Asian Free Trade Agreement (SAFTA), which promised the formation of a free trade zone for the whole South Asia. But this was not a success. Identify the difficulties in implementing SAFTA.

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The idea of SAFTA was that peace and cooperation will flourish if there are cross the-border trade and commerce. Although the Agreement was signed in 2004, it came into force only in 2006. SAFTA tried to reduce the commercial tax rate up to 20% in 2007. Bur many neighbouring countries thought that through SAFTA India was trying to penetrate their markets and spread its influence into their politics and social life. But India thinks SAFTA will benefit all economically and they also will get cooperation in all the political issues.

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