Seven South Asian Nations Agree in Principle on a Trade Zone

[54anickel]

Here we go, Trade Zones being created. South America is also working on their plans.

http://www.nytimes.com/2004/01/03/international/asia/03ASIA.html

ISLAMABAD, Pakistan, Jan. 2 — The nations of South Asia agreed Friday on the framework for a free trade zone that would encompass one-fifth of the world's population, a step that could deepen the improving relations between the region's main rivals, India and Pakistan.

The broad framework of the accord, which would start eliminating tariffs by Jan. 1, 2006, was reached during talks here by foreign ministers preparing for the first summit talks in two years of the leaders of India, Pakistan, Bangladesh, Sri Lanka, Nepal, the Maldives and Bhutan.

"We must set aside all our suspicions of each other wherever they exist and switch on the engine of South Asian growth in order to travel on the road to prosperity," said India's foreign minister, Yashwant Sinha.

The trade agreement would allow the "harmonization of tariffs" and the establishment of a regional development bank, Mr. Sinha said.

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[54anickel]

1. Here's a link that doesn't need subscription Sorry about that

http://www.washingtonpost.com/wp-dyn/articles/A50664-2004Jan2.html