ASIA PACIFIC TRADE AGREEMENT (APTA)
18, Jul 2018
India has provided tariff concessions on 3,142 products to Asia Pacific Trade Agreement (APTA) members, including Bangladesh and Sri Lanka, from July 1
These duty concessions will be more for least developed countries (LDCs) and less for developing nations.
- APTA also know as Bangkok Agreement, signed in 1975 under the aegis of UNESCAP.
- It aims to promote economic development through the adoption of mutually beneficial trade liberalization measures that will contribute to intra-regional trade expansion and economic integration.
- Open to all developing member countries of UNESCAP.
- It is an Preferential trade agreement.
- The Ministerial Council represents the highest decision-making authority.
- UNESCAP functions as APTA’s Secretariat.
- Members of APTA are Bangladesh, India ,china, Laos Sri Lanka, Mangolia, Republic of Korea.
- APTA is the only operational trade agreement linking china and India.