The free trade initiatives led by The South Asian Free Trade Agreement (SAFTA) was claimed to be a gigantic step towards escalating the trade and economic cooperation in the South Asian region. It has been a long time since the commencement of SAFTA and the progress made in trade between SAARC countries has not been satisfactory. Keeping that in the mind, the author intents to evaluate the situation responsible for this scrawny progress in trade. However, before that it will be pertinent to analyze the provisions with respect to Regional Trade Agreements in WTO jurisprudence and then to put them in contrast with  SAFTA, to give a clearer picture of  South Asian Trade regionalism.