South Asian countries to requested to reduce tariff

KATHMANDU, March 29 (Xinhua) -- Nepal requested South Asian countries to reduce tariff on their products during the South Asian Free Trade Agreement (SAFTA) working committee meeting that started here Monday.

Nepal urged Bangladesh to remove 121 products, Pakistan 86 products, Sri lanka 128 products, and Afghanistan 11 products from the Sensitive List, according to the participants of the meeting.

Similarly, India, Bangladesh, Bhutan and Sri lanka requested Nepal to reduce tariffs on various products from Sensitive List.

"India requested to reduce tariff on 53 products like vehicles from the sensitive list," according to the participants. Tuesday's meeting could finalize the list of products requested to be removed from the sensitive list, the participants informed.

According to Tuesday's The Himalayan Times daily, the meeting is scheduled to be held from till March 31 to discuss over reduction of 20 percent products in the sensitive list and service sector expansion.

All the member countries of SAARC -- except Maldives -- are taking part in the meeting.

Founded in 1985, the SAARC includes Bhutan, Bangladesh, India, Maldives, Sri Lanka, Nepal, Pakistan and Afghanistan.

Source: English.news.cn