JK keen on SAFTA or bilateral trade in Asia: Azad

Chandigarh, Sep 28: Pointing out virgin markets in central Asia, Jammu and Kashmir Chief Minister Ghulam Nabi Azad today said the state would get an immediate boost from SAFTA and bilateral free trade agreements (FTAs) in the continent.

''All this must be seen as a forerunner of deeper economic integration in the region that cuts across countries,'' Mr Azad said in his address at the Chief Minsiters' Conclave- North Indian Commmon Economy (NICE) here.

He said such initiatives could be taken on two routes- trade liberalisation that puts South Asia in the framework of SAFTA, and secondly, the bilateral or multilateral free trade agreements (FTAs). The bilateral FTAs could be made with a number of countries along the silk route, Mr Azad said.

He said this would allow the northern markets to be exploited and northern economic agents to exploit the virgin Central Asian markets.

''The northern region indeed has the potential to become the ''Prime Donna of India,'' he said, adding he believed this by taking an example of the European Union.

The Chief Minister said the border state was facing policy, physical and trade barriers.

Citing an example, he said the steel industry in Jammu and Kashmir was suffering as the state was not allowed to import the scrap through inland containers, which were allowed to reach up to Delhi or at the most Ludhiana only. This anomaly needed to be removed by extending the movements of these containers up to J and K, he said.

UNI