Among the given items, option (d) is not true for the South AsianFree Trade Area (SAFTA). SAFTA is an agreement reached on6th January, 2004 at the 12th SAARC summit in Islamabad,Pakistan. It created a free trade area in Afghanistan, Bangladesh,Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. It aimedto reduce customs duties of all the traded goods to zero by theyear 2016. The SAFTA agreement came into force on 1st January,2006, and is operational following the ratification of the agreementby the seven governments. The SAFTA agreement does not takeprecedence over any other agreement a member country mayhave with states outside SAFTA.