Asia-Pacific Trade Agreement (APTA)

JUN 20

Preliminary   > International Relations   >   Economic Groupings   >   India-Bangladesh

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