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After more than a decade of negotiation, The Heads of State of the South Asian Association for Regional Cooperation (SAARC) signed the Framework Agreement on South Asian Free Trade Area (SAFTA) at the twelfth SAARC Summit at Islamabad in January 2004. The signing of the Framework Agreement on South Asian Free Trade Area (SAFTA) represented a major pragmatic initiative by the South Asian leaders to address the issues of trade and development in the region. However, the slow process and limited progress of SAFTA has led some scholars to argue that SAFTA is unlikely to succeed.
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