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According to media reports, India, Bangladesh, Sri Lanka, Myanmar and Thailand have decided to establish a free trade area to promote greater regional co-operation.
Officials from the five countries will meet in New Delhi next month to work out the details of the free trade area. Trade between these countries was affected by both tariff and non-tariff barriers.
The total trade between the countries was over $3.5 billion in 2000-01 (April-March), an Indian trade official said, with the maximum trade during this period taking place between India and Bangladesh.
- nriol.com report
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