What is difference between SAPTA and SAFFTA?

SAPTA (South Asia Preferential Trading Arrangement) and SAFTA (South Asia Free Trade Area) are both initiatives aimed at promoting trade among South Asian countries. SAPTA, established in 1993, allows member countries to provide preferential trade terms to each other, focusing on reducing tariffs on specific goods. In contrast, SAFTA, which came into effect in 2006, seeks to create a more comprehensive free trade area by gradually eliminating tariffs on a wider range of goods, fostering deeper economic integration among South Asian nations.