SAFTA talks in Colombo for reducing tariff barriers
The trade ministers of SAARC countries are going to meet in Colombo on Friday to decide on reducing non-tariff barriers and withdrawing all duties by 2021.
The reduction or removal of trade barriers is expected to help member countries like Bhutan boost their regional trade.
There may be bilateral talks on the sidelines to supply electricity from the surplus country to the deficit ones in the region. Countries like Nepal, Bhutan and some Indian states are possible target of power generation to meet the regional needs.
According to notice from Ministry of Economic Affairs, Economic Affairs Minister Norbu Wangchuk will lead the Bhutanese delegation this SAFTA meet.
Prior to the meeting, SAFTA expert groups are now holding meetings. Started Tuesday, the experts continue their meet till today.
The SAFTA meet will appoint consultants to identify and withdraw non-tariff barriers and to provide progress reports on implementing the zero-tariff regime by 2021.
The major non-tariff barriers include local tax, testing certificates and court orders.