Consider the following statements:
1. The agreement on South Asian Free Trade Area (SAFTA) came into effect from 1st December, 2005.
2. As per SAFT A agreement terms, India, Pakistan and Sri Lanka have to decrease their custom duties to the level of 0 to 5 per cent by the year 2013.
Which of the statement(s) given above is/are correct?
(a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2
