It is a step towards a South Asian customs union and common market.
The agreement came into effect in 2006.
The SAFTA is a trade liberalisation regime.
The SAFTA agreement takes precedence over any other agreement a member country may have with states outside SAFTA.
Answer is Right!
Answer is Wrong!
The correct answer is D.
SAFTA is a trade liberalization regime that came into effect in 2006. It is a step towards a South Asian customs union and common market. The agreement does not take precedence over any other agreement a member country may have with states outside SAFTA.
Here is a brief explanation of each option:
- Option A: SAFTA is a step towards a South Asian customs union and common market. This is true. The agreement aims to promote trade and economic cooperation among the member countries, and to eventually create a South Asian customs union and common market.
- Option B: The agreement came into effect in 2006. This is true. The agreement was signed in 2004 and came into effect in 2006.
- Option C: The SAFTA is a trade liberalisation regime. This is true. The agreement aims to reduce tariffs and other barriers to trade among the member countries.
- Option D: The SAFTA agreement takes precedence over any other agreement a member country may have with states outside SAFTA. This is not true. The agreement does not take precedence over any other agreement a member country may have with states outside SAFTA.