What Is the Full Form of Safta
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The full form of SAFTA is South Asian Free Trade Agreement, or SAFTA stands for South Asian Free Trade Agreement, or the full name of the abbreviation given is South Asian Free Trade Agreement. Goods covered by the Agreement which are imported into the territory of a Contracting State from another Contracting State and which are dispatched directly within the meaning of Rule 12 may qualify for preferential treatment if they satisfy the origin requirement under one of the following conditions: (a) products which have been wholly produced, obtained or manufactured in the territory of the exporting State within the meaning of Rule 5; (b) products which have not been wholly manufactured or manufactured in the territory of the export contract, provided that such products are eligible for aid under Rule 6. The establishment of an intergovernmental group to formulate an agreement on the establishment of a SAPTA by 1997 was approved at the sixth SAARC Summit in Colombo in December 1991. For the purposes of applying the rules of origin referred to in Rule 14 of the SAFTA Rules of Origin, the following operational certification procedures shall apply: AUTHORITY ARTICLE 1 The certificate of origin shall be issued by an authority designated by the Government of the Contracting State of export (hereinafter referred to as the “issuing authority”) and notified to the other Contracting States. ARTICLE 2 (a) Each Contracting State shall communicate to the other Contracting States the names and addresses of the officials empowered to issue the certificate of origin and shall furnish their specimen signature and official seal. (b) Any change of name, address or official seal shall be notified without delay to the other Contracting States. ARTICLE 3 In order to verify the conditions of preferential treatment, the issuing authority shall have the right to request supporting documents or to carry out any control deemed appropriate. PRE-EXPORT VERIFICATION ARTICLE 4 The issuing authority shall, at the written request of the manufacturer and/or exporter of the products wishing to receive preferential treatment, carry out a pre-export inspection of the manufacturing plant or establishments. The result of the verification, which shall be checked regularly or, where appropriate, shall be accepted as proof of verification of the origin of the said products to be exported subsequently.
Pre-export verification may not apply to products whose origin can, by their very nature, be easily verified. APPLICATION FOR THE ISSUE OF THE CERTIFICATE OF ORIGIN ARTICLE 5 When completing the formalities for the export of products subject to preferential arrangements, the exporter or his authorised representative shall present the duly completed certificate of origin and the relevant documents demonstrating that the products to be exported may benefit from the issue of a certificate of origin. PRE-EXPORT VERIFICATION ARTICLE 6 The issuing authority shall, to the best of its ability, carry out an appropriate examination of each application for a certificate of origin in order to ensure that: (a) the certificate of origin is duly completed and signed by the signatory authorised; (b) the origin of the product complies with the rules of origin laid down in this Agreement; (c) the other declarations/endorsements of the certificate of origin correspond to the supporting documents submitted; (d) HS Code, (e.B. Value, .bDescription, quantity and weight of goods, brands, number and type of packages, as indicated, correspond to the shipment to be exported. ISSUE OF THE CERTIFICATE OF ORIGIN ARTICLE 7 (a) The validity of the certificate of origin shall be 12 months from the date of issue. (b) the certificate of origin is issued on ISO A4 paper in accordance with the model set out in Appendix 1; It should be written in English. (c) The certificate of origin shall consist of an original and a duplicate of the following colours: original – light orange duplicate – white (d) Each certificate of origin shall bear a reference number, which shall be issued separately by each issuing body in different places. (e) the original is sent by the exporter to the importer for presentation to the customs authorities of the port or place of importation; The duplicate shall be retained by the issuing authority of the Contracting State of export.
(f) After the issuance of the certificate of origin, the issuing authority of the exporting State Party shall transmit weekly electronically to the issuing authority of the importing State, the issuing authority of the exporting State Party, information on the issuance of the certificate of origin in the format set out in Annex -2. ARTICLE 8 The certificate of origin issued by the issuing authority shall contain the rules of origin in force and the value of the originating non-.b materials, expressed as a percentage of the value f.b of the goods or the sum of the total contents originating in the territory of the contracting State of export, expressed as a percentage of the value f.b of the goods exported; where applicable, in box 8. ARTICLE 9 The certificate of origin shall not allow deletions or overlaps. . . .