Apta Agreement Countries

The Asia-Pacific Trade Agreement (APTA) is a preferential trade agreement formerly known as the Bangkok Agreement. The Bangkok Agreement, signed in 1975 as an initiative of the United Nations Economic and Social Commission for Asia and the Pacific (UNSCAP), is a preferential agreement for trade relations between developing countries. The agreement is currently signed between China, Bangladesh, India, Lao, the Republic of Korea and Sri Lanka. At the first meeting of the Bangkok Agreement Council of Ministers on 2 November 2005 in Beijing, representatives of member states approved the revised text of the agreement and decided to rename the agreement as an Asia-Pacific trade agreement. Since September 1, 2006, all APTA members have successfully implemented the outcome of the third round of tariff reduction negotiations. The fourth round of negotiations, which includes tariff concessions for trade in goods, trade in services, investment, trade facilitation and non-tariff measures, etc., is under way. The Asia-Pacific Trade Agreement (APTA), formerly known as the Bangkok Agreement[1] and renamed on November 2, 2005,[2] was signed in 1975. It is the oldest preferential trade agreement between countries in the Asia-Pacific region. Seven participating states – Bangladesh, China, India, Lao PDR, Mongolia, Republic of Korea and Sri Lanka – are parties to APTA. The APTA pact occupies the market for 2921.2 million people [2] and the size of this large market represents $14615.86 billion in gross domestic product (GDP) in the 2015-16 fiscal year. [3] APTA`s main objective is to accelerate economic development among the seven participating states that opt for trade and investment liberalization measures that, through the coverage of goods and services, synchronized investment and the free transfer of technology, will contribute to the coverage of intra-regional trade and economic strengthening. Its aim is to promote economic development and cooperation through trade liberalization measures.

The AptA is open to all members of the United Nations Economic and Social Commission for Asia and the Pacific, which serves as the secretariat of APTA. APTA members are currently participating in the fourth round of tariff concessions, which is expected to end in October 2009. [4] The Asia-Pacific Trade Agreement (APTA) is a preferential regional trade agreement, formerly known as the Bangkok Agreement. The AptA aims to promote the economic development of its members by adopting mutually beneficial trade liberalization measures that contribute to regional trade expansion and economic cooperation. Over time, it has focused, from the first negotiations on tariff concessions in trade in goods, to the current negotiations on investment liberalization, trade in services and trade facilitation. It is also constantly working to improve and modernize its rules of origin for the trade in goods. The fourth round of negotiations will focus on areas that go beyond traditional tariff concessions in order to deepen trade policy cooperation and integration.