ASIAN DEVELOPMENT BANK
The Asian Development Bank (ADB) is a regional development bank established on 22 August
1966 to facilitate economic development of countries in Asia. The bank admits the members
of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP,
formerly known as the United Nations Economic Commission for Asia and the Far East) and
non-regional developed countries. From 31 members at its establishment, ADB now has 67
members - of which 48 are from within Asia and the Pacific and 19 outside. ADB was modeled
closely on the World Bank, and has a similar weighted voting system where votes are
distributed in proportion with member's capital subscriptions.
SAFTA
What is Safta?
It is an abbreviation for the South Asian Free Trade Area. It is a proposed FTA between the
seven members of the Saarc group. These include Bangladesh, Bhutan, India, Maldives, Nepal,
Pakistan and Sri Lanka.
What is its ultimate goal?
It will replace the earlier South Asia Preferential Trade Agreement (SAFTA), which was limited in
its scope. The ultimate aim of Safta will be to put in place a full-fledged South Asia Economic
Union on the lines of the EU. Safta is scheduled for launch in January 2006 and will lead to
reduction of tariffs for intra-regional trade among Saarc countries.
What falls within the ambit of Safta?
The agreement incorporates trade in goods. Services and investment are not part of the
agreement.
What are the objectives guiding Safta?
Among its aims are: promoting and enhancing mutual trade and economic cooperation by
eliminating barriers in trade, promoting conditions of fair competition in the free trade area,
ensuring equitable benefits to all and establishing a framework.
G-8
The Group of Eight ('G8) is for the governments of eight of the world's largest economies. (It
excludes, however, two of the actual eight largest economies by nominal GDP: China, 2nd
The Asian Development Bank (ADB) is a regional development bank established on 22 August
1966 to facilitate economic development of countries in Asia. The bank admits the members
of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP,
formerly known as the United Nations Economic Commission for Asia and the Far East) and
non-regional developed countries. From 31 members at its establishment, ADB now has 67
members - of which 48 are from within Asia and the Pacific and 19 outside. ADB was modeled
closely on the World Bank, and has a similar weighted voting system where votes are
distributed in proportion with member's capital subscriptions.
SAFTA
What is Safta?
It is an abbreviation for the South Asian Free Trade Area. It is a proposed FTA between the
seven members of the Saarc group. These include Bangladesh, Bhutan, India, Maldives, Nepal,
Pakistan and Sri Lanka.
What is its ultimate goal?
It will replace the earlier South Asia Preferential Trade Agreement (SAFTA), which was limited in
its scope. The ultimate aim of Safta will be to put in place a full-fledged South Asia Economic
Union on the lines of the EU. Safta is scheduled for launch in January 2006 and will lead to
reduction of tariffs for intra-regional trade among Saarc countries.
What falls within the ambit of Safta?
The agreement incorporates trade in goods. Services and investment are not part of the
agreement.
What are the objectives guiding Safta?
Among its aims are: promoting and enhancing mutual trade and economic cooperation by
eliminating barriers in trade, promoting conditions of fair competition in the free trade area,
ensuring equitable benefits to all and establishing a framework.
G-8
The Group of Eight ('G8) is for the governments of eight of the world's largest economies. (It
excludes, however, two of the actual eight largest economies by nominal GDP: China, 2nd
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