ization ▁of ▁S AF TA ▁and ▁to ▁this ▁end , ▁an ▁Inter - G overn ment al ▁Ex pert ▁Group ▁( I GE G ) ▁was ▁set ▁up ▁in ▁ 1 9 9 6 ▁to ▁identify ▁the ▁necessary ▁steps ▁for ▁progress ing ▁to ▁a ▁free ▁trade ▁area . ▁The ▁T enth ▁SA AR C ▁Sum mit ▁( Col om bo , ▁ 2 9 – 3 1 ▁July ▁ 1 9 9 8 ) ▁decided ▁to ▁set ▁up ▁a ▁Committee ▁of ▁Exper ts ▁( CO E ) ▁to ▁draft ▁a ▁compreh ensive ▁treat y ▁framework ▁for ▁creating ▁a ▁free ▁trade ▁area ▁within ▁the ▁region , ▁taking ▁into ▁consideration ▁the ▁asym met ries ▁in ▁development ▁within ▁the ▁region ▁and ▁bearing ▁in ▁mind ▁the ▁need ▁to ▁fix ▁real istic ▁and ▁achiev able ▁targets . ▁ ▁The ▁S AF TA ▁Ag re ement ▁was ▁signed ▁on ▁ 6 ▁January ▁ 2 0 0 4 ▁during ▁Tw elf th ▁SA AR C ▁Sum mit ▁held ▁in ▁Islam abad , ▁Pakistan . ▁The ▁Ag re ement ▁entered ▁into ▁force ▁on ▁ 1 ▁January ▁ 2 0 0 6 , ▁and ▁the ▁Trade ▁Liberal ization ▁Program me ▁comm enced ▁from ▁ 1 ▁July ▁ 2 0 0 6 . ▁Under ▁this ▁agreement , ▁SA AR C ▁members ▁will ▁bring ▁their ▁duties ▁down ▁to ▁ 2 0 ▁percent ▁by ▁ 2 0 0 9 . ▁Following ▁the ▁Ag re ement ▁coming ▁into ▁force ▁the ▁S AF TA ▁Minister ial ▁Council ▁( S MC ) ▁has ▁been ▁established ▁compr ising ▁the