Which of the following trade agreements aims to 'strengthen intra-SAARC economic cooperation to maximise the region's potential for trade and achieving development for their people'?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. SAFTA.
- The South Asian Free Trade Area (SAFTA) trade agreement indeed aims to strengthen intra-SAARC (South Asian Association for Regional Cooperation) economic cooperation to maximize the region's potential for trade and achieve development for their people.
- SAFTA was established to promote economic integration among the SAARC member countries by reducing tariffs and barriers to trade.