Asia-Pacific Trade Agreement (APTA) was previously known as Bangkok agreement. Member countries of APTA are Bangladesh, China, India, Laos, South Korea and Sri Lanka.
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Bangkok Agreement or Asia-Pacific Trade Agreement (APTA)
- Asia-Pacific Trade Agreement (APTA) is a preferential regional trade agreementformerly known as the Bangkok Agreement.
- APTA was signed in 1975 as an initiative of ESCAP (Economic and Social Commission for Asia and the Pacific).
- It was renamed as Asia-Pacific Trade Agreement on 2nd November 2005.
- APTA aims to promote economic developmentof its members through the adoption of mutually beneficial trade liberalization measures that contribute to regional trade expansion and economic cooperation.
- Member countries of APTA are Bangladesh, China, India, Laos, South Korea and Sri Lanka.
- Over time it refocused from the initial negotiation of tariff concessions on merchandise trade to at present negotiating liberalization in investment, services trade and trade facilitation.
- It is also continuously working on improving and modernizing its Rules of origin for trade in goods.