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Asia-Pacific Trade Agreement

February 15, 2024

The , previously known as the [1] and renamed 2 November 2005,[2] was signed in 1975. It is the oldest preferential trade agreement between countries in the Asia-Pacific region. The APTA covers market for 2921.2 million people [2] which accounts for US$14615.86 billion in terms of gross domestic product (GDP) in the Fiscal Year (FY) 2015-2016.[3] APTA’s key objective is to hasten economic development among the seven participating states opting trade and investment liberalization measures that will contribute to intra-regional trade and economic strengthening through the coverage of merchandise goods and services, synchronized investment regime and free flow of technology transfer making all the Participating States to be in equally winsome situation. Its aim is to promote economic development and cooperation through the adoption of trade liberalization measures. 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. Members of APTA are currently participating in the Fourth Round of Tariff Concessions, which are expected to conclude in October 2009.[4]

Asia-Pacific Trade Agreement
APTA members
TypeTrade agreement
Signed1975; 49 years ago (1975)
Parties

Member nations edit

Negotiations edit

Exchange of Tariff Concessions edit

The Third Round, entering into force on 1 September 2006, led to tariff concessions on more than 4,000 items.

The Fourth Round, launched in October 2007, was scheduled to be concluded by the Third Ministerial Council in October 2009. This Round aims to widen the coverage of preferences to at least 50 per cent of the number of tariff lines of each member, and at least 20-25 per cent the value of bilateral trade. It also aims to provide a tariff concession of at least 50 per cent (on average).

Framework Agreement edit

The Fourth Round of negotiations is extending into areas beyond the traditional tariff concessions in order to deepen trade cooperation and integration. APTA members are currently negotiating three framework agreements on trade facilitation, trade in services, and investments. In addition, APTA members are exchanging information on non-tariff measures.

Institutional arrangements edit

  • Ministerial Council: The Ministerial Council represents the highest decision-making authority. It provides overall policy direction for the future negotiating agenda of the Agreement, as well as supervision and coordination of the implementation of the Agreement. The Council meets at least once every two years, with the First Session held on 2 November 2005 in Beijing, China, and the Second Session held on 26 October 2007 in Goa, India. The Third Session will be held on 22 October 2009 in Seoul, Republic of Korea.
  • Standing Committee: APTA is administered by a Standing Committee. Each Participating State designates a national focal point and an alternate focal point responsible for handling this duty.
  • Secretariat: The of UNESCAP functions as APTA’s Secretariat.

See also edit

Other trade agreements and organizations in the Asia–Pacific region

References edit

  1. ^ WTO L/4668
  2. ^ WTO WT/COMTD/N/22 January 12, 2012, at the Wayback Machine
  3. ^ Latifee, E. H., 2016, http://www.textiletoday.com.bd/bangladesh-rmgs-achievements-from-apta/
  4. ^ http://www.unescap.org/tid/apta/factsheet08.pdf, APTA Factsheet
  5. ^ . United Nations Economic and Social Commission for Asia and the Pacific. Archived from the original on 2009-08-01.
  6. ^ Kelegama, Saman (2016). "China as a Balancer in South Asia". The new great game : China and South and Central Asia in the era of reform. Thomas Fingar. Stanford, California: Stanford University Press. ISBN 978-0-8047-9764-1. OCLC 939553543.
  7. ^ . United Nations Economic and Social Commission for Asia and the Pacific. 2013-10-28. Archived from the original on 2013-11-05.
  8. ^ "Ceremony for Mongolia's accession to the Asia-Pacific Trade Agreement (APTA)". United Nations Economic and Social Commission for Asia and the Pacific. 2020-09-29.

External links edit

  • Asia-Pacific Trade Agreement Website
  • United Nations Economic and Social Commission for Asia and the Pacific

February 15, 2024
asia, pacific, trade, agreement, apta, previously, known, bangkok, agreement, renamed, november, 2005, signed, 1975, oldest, preferential, trade, agreement, between, countries, asia, pacific, region, apta, covers, market, 2921, million, people, which, accounts. The Asia Pacific Trade Agreement APTA previously known as the Bangkok Agreement 1 and renamed 2 November 2005 2 was signed in 1975 It is the oldest preferential trade agreement between countries in the Asia Pacific region The APTA covers market for 2921 2 million people 2 which accounts for US 14615 86 billion in terms of gross domestic product GDP in the Fiscal Year FY 2015 2016 3 APTA s key objective is to hasten economic development among the seven participating states opting trade and investment liberalization measures that will contribute to intra regional trade and economic strengthening through the coverage of merchandise goods and services synchronized investment regime and free flow of technology transfer making all the Participating States to be in equally winsome situation Its aim is to promote economic development and cooperation through the adoption of trade liberalization measures 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 Members of APTA are currently participating in the Fourth Round of Tariff Concessions which are expected to conclude in October 2009 4 Asia Pacific Trade AgreementAPTA membersTypeTrade agreementSigned1975 49 years ago 1975 Parties7 Bangladesh China India Laos Mongolia South Korea Sri Lanka Contents 1 Member nations 2 Negotiations 2 1 Exchange of Tariff Concessions 2 2 Framework Agreement 3 Institutional arrangements 4 See also 5 References 6 External linksMember nations editBangladesh original member 1975 5 China acceded in 2000 6 India original member 1975 Republic of Korea original member 1975 Lao People s Democratic Republic original member 1975 Sri Lanka original member 1975 Mongolia acceded in 2013 full membership in 2020 7 8 Negotiations editExchange of Tariff Concessions edit The Third Round entering into force on 1 September 2006 led to tariff concessions on more than 4 000 items The Fourth Round launched in October 2007 was scheduled to be concluded by the Third Ministerial Council in October 2009 This Round aims to widen the coverage of preferences to at least 50 per cent of the number of tariff lines of each member and at least 20 25 per cent the value of bilateral trade It also aims to provide a tariff concession of at least 50 per cent on average Framework Agreement edit The Fourth Round of negotiations is extending into areas beyond the traditional tariff concessions in order to deepen trade cooperation and integration APTA members are currently negotiating three framework agreements on trade facilitation trade in services and investments In addition APTA members are exchanging information on non tariff measures Institutional arrangements editMinisterial Council The Ministerial Council represents the highest decision making authority It provides overall policy direction for the future negotiating agenda of the Agreement as well as supervision and coordination of the implementation of the Agreement The Council meets at least once every two years with the First Session held on 2 November 2005 in Beijing China and the Second Session held on 26 October 2007 in Goa India The Third Session will be held on 22 October 2009 in Seoul Republic of Korea Standing Committee APTA is administered by a Standing Committee Each Participating State designates a national focal point and an alternate focal point responsible for handling this duty Secretariat The Trade and Investment Division of UNESCAP functions as APTA s Secretariat See also editAsia Pacific Trade Agreements Database Asian Clearing Union United Nations Economic and Social Commission for Asia and the Pacific Asia Pacific Research and Training Network on Trade Rules of Origin Market access Free trade area TariffsOther trade agreements and organizations in the Asia Pacific regionASEAN Free Trade Area AFTA South Pacific Regional Trade and Economic Cooperation Agreement SPARTECA South Asian Free Trade Area SAFTA Pacific Islands Countries Trade Agreement PICTA Bay of Bengal Initiative for MultiSectoral Technical and Economic Cooperation BIMSTEC Commonwealth of Independent States Free Trade Agreement CISFTA References edit WTO L 4668 WTO WT COMTD N 22 Archived January 12 2012 at the Wayback Machine Latifee E H 2016 http www textiletoday com bd bangladesh rmgs achievements from apta http www unescap org tid apta factsheet08 pdf APTA Factsheet The Asia Pacific Trade Agreement United Nations Economic and Social Commission for Asia and the Pacific Archived from the original on 2009 08 01 Kelegama Saman 2016 China as a Balancer in South Asia The new great game China and South and Central Asia in the era of reform Thomas Fingar Stanford California Stanford University Press ISBN 978 0 8047 9764 1 OCLC 939553543 APTA welcomes Mongolia as its seventh member United Nations Economic and Social Commission for Asia and the Pacific 2013 10 28 Archived from the original on 2013 11 05 Ceremony for Mongolia s accession to the Asia Pacific Trade Agreement APTA United Nations Economic and Social Commission for Asia and the Pacific 2020 09 29 External links editAsia Pacific Trade Agreement Website Asia Pacific Trade Agreement Full Text Asia Pacific Research and Training Network on Trade ARTNeT Asia Pacific Trade Agreements Database APTIAD United Nations Economic and Social Commission for Asia and the Pacific Retrieved from https en wikipedia org w index php title Asia Pacific Trade Agreement amp oldid 1203322407, wikipedia, wiki, book, books, library,

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