Asia-Pacific Trade Agreement (APTA)

IN NEWS:

• In a bid to woo Bangladesh, China has announced tariff exemption for 97% of Bangladeshi products under Asia-Pacific Trade Agreement (APTA), effective from July 1.

ABOUT APTA:

• The Asia-Pacific Trade Agreement (APTA), previously known as the Bangkok Agreement and renamed in November 2005, 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 the parties to the APTA.
• APTA is open to all members of the United Nations Economic and Social Commission for Asia and the Pacific, which serves as the APTA Secretariat.

PRELIMS QUESTION:

Q. Which of the following are members of APTA:

1. India
2. China
3. USA
4. Bangladesh

Select the correct answer using the code given below:

1. 1 and 2 only
2. 1, 2 and 4 only
3. 2, 3 and 4 only
4. 1, 2, 3 and 4

Answer to Prelims question