Juggernaut - GAC

international trade in a wide range of com-
modities,” says Christer.
“As a leading provider of shipping, logistics
and marine services and solutions in the Indian
Subcontinent, GAC is constantly looking for
new ways to enhance its portfolio to better
serve its many clients in the region.”
Human Resource
Within the region’s massive population is a large
pool of educated and skilled professionals - a
driving force behind its development.
GAC takes advantage of that resource, com-
bining local and expatriot talent to offer the
best of both worlds. And many professionals
from the region can be found in GAC offi ces
worldwide.
Photo: Pressens Bild
Christer adds: “Currently, we have about
1,000 GAC professionals working in India,
Pakistan and Sri Lanka. That fi gure will rise as
new offi ces and services are added in response to
the demands of the region’s diverse markets.”
The Indian Subcontinent
Regional Agreement
to Boost Free Trade
In January last year, the South Asia Free Trade Agreement (SAFTA)
was signed at the 12th South Asian Association for Regional
Cooperation (SAARC) summit at Islamabad. This created the framework
for a free trade zone covering 1.4 billion people in India,
Pakistan, Nepal, Sri Lanka, Bangladesh, Bhutan and the Maldives.
The SAFTA agreement will introduce zero customs
duty on trade in practically all products
within the region by the end of 2012.
It is intended that the SAARC Preferential
Trading Arrangement (SAPTA), which provides
for concessional duty on sub-continent trade,
will make way for SAFTA at the beginning of
2006. The new agreement will become opera-
Bangladesh
Bangladesh came into existence when Bengali
East Pakistan separated from West Pakistan in
1971. It is located between India and Burma,
bordering the Bay of Bengal. Natural hazards
include frequent droughts and cyclones.
Total area: 144,000 square kilometres
Coastline: 580 kilometres
Population: 44,319,628
Main exports: Garments, jute & jute goods,
leather, frozen fi sh & seafood.
Main imports: Machinery & equipment,
chemicals, iron and steel,
textiles, foodstuffs,
petroleum products, cement.
Ports & harbours: Chittagong, Dhaka, Mongla
Port, Narayanganj
The Maldives
This low-lying group of atolls south-southwest
of India in the Indian Ocean was among
the nations to be hit by the December 2004
tsunami. Tourism in the Maldives’ largest
industry, representing more than 60% of
foreign exchange receipts and over 90% of
government tax revenue.
Total area: 300 square kilometres
Coastline: 644 kilometres
Population: 349,106
Main exports: Fish, clothing.
Main imports: Petroleum products, ships,
foodstuffs, textiles, clothing,
intermediate and capital
goods.
Ports & harbours: Gan, Male.
Nepal
Nepal is a mountain kingdom in the
Himala yas, bordering China and India.
It contains eight of the world’s highest
peaks including Mount Everest.
Total area: 140,800 square kilometres
Population: 27,676,547
Main exports: Carpets, clothing, leather
goods, jute goods, grain.
Main imports: Gold, machinery &
equipment, petroleum
products, fertilizer.
5
tional after ratifi cation by the governments of
all seven signatory nations.
Under SAFTA, the subcontinent’s three
main developing countries – India, Pakistan
and Sri Lanka – will be required to bring duties
down to 20% in the fi rst phase of the two year
period ending in 2007. In the fi nal phase ending
in 2012, that duty will be reduced to zero
in a series of annual cuts.
Bhutan
This landlocked country is strategically
located between China and India and
controls several key Himalayan mountain
passes. Its name means “Land of the
Thunder Dragon” and is derived from violent
storms in the Himalayas.
Total area: 47,000 square kilometres
Population: 2,232,291
Main exports: Electricity (to India),
cardamom, gypsum, timber,
handicrafts, cement, fruit,
precious stones, spices.
Main imports: Fuel & lubricants, grain,
machinery & parts, vehicles,
fabrics, rice.
Enquiries concerning Bangladesh, Bhutan,
the Maldives and Nepal should be directed
to GAC’s Asia Pacifi c/Indian Subcontinent
Regional Offi ce in Singapore at
christer.sjodoff@gacworld.com
Read on for more about the region’s
major players – India, Pakistan and Sri Lanka. >