Q.Consider the following statements: 1. The agreement on South Asian Free Trade Area (SAFTA) came into effect from 1st December, 2005. 2. As per SAFTA agreement terms, India, Pakistan and Sri Lanka have to decrease their custom duties to the level of 0 to 5 per cent by the year 2013. Which of the statement(s) given above is/are correct?
Correct answer: 2 only