ISLAMABAD, Nov 28: The sixth round of talks on South Asian Free Trade Area (SAFTA) that begins in Kathmandu on Sunday promises to conclude with the finalization of SAFTA framework treaty which will accelerate the regional economic cooperation, informed sources told Dawn on Friday.

A three-member Pakistani delegation will be leaving here for Kathmandu on Saturday to participate in the two-day SAFTA talks, the sources said. The delegation includes two ministry of commerce joint secretaries, Shahid Bashir and Afzal Qadir, and a director from the foreign ministry.

Following the expected finalization of the SAFTA framework treaty, the heads of the South Asian Association for Regional Cooperation (Saarc) member states will sign the treaty at the upcoming 12th summit in Islamabad, the sources maintained.

“It is going to be a very significant milestone in the history of Saarc,” a senior official involved in the process told Dawn, pointing to the likely signing of the SAFTA treaty.

Pakistan’s previously held position on SAFTA was repeatedly termed by India as the main stumbling block in promotion of greater economic and trade cooperation between seven Saarc member states.

A long held view in Pakistani official circles had been that any movement towards South Asian free trade zone was not in the interest of Pakistan because it would undermine Pakistan’s business and trade interests. The change in Islamabad’s position on SAFTA came following the re-examination of this view. As a part of the re-examination process the Foreign Office commissioned the Pakistan Institute of Development Economics (PIDE) to carry out a study on the impact of South Asian free trade zone on Pakistan’s business and trade interests.

A major brainstorming session was held with different relevant ministries participating in it following the study conducted last