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What is Preferential Trade

Chapter 7
Handbook of Research on Global Indicators of Economic and Political Convergence
It is one kind of trade pact between countries that reduces tariffs for certain products to the countries who sign the agreement.
Published in Chapter:
Role of SAARC in Convergence of South Asian Economies
Sudhakar Patra (Ravenshaw University, India)
Copyright: © 2016 |Pages: 26
DOI: 10.4018/978-1-5225-0215-9.ch007
Abstract
The objective of the chapter is to analyze the role of SAARC in regional integration, trade convergence in south Asia. It also highlights the pattern and direction of export and import, share in world trade, preferential trading in South Asian countries. With strong and improving macroeconomic fundamentals, the South Asian region is well established on a high growth path. Based on secondary data on South Asian trade collected from South Asian Economic reports and other statistical volumes, the study observes a decreasing trend of export during the period 1990-2011. Consequently, the overall intra-regional trade intensity index decreased to 1.5 in the year 2010 from 4.2 in the year 2005. SAARC and SAFTA have not contributed in integration and convergence of South Asian Countries rather lead to trade divergence.
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