Asia-Pacific Trade Agreement
Encyclopedia
The Asia-Pacific Trade Agreement (APTA), previously
known as the Bangkok Agreement and renamed 2 November 2005, was signed in
1975. It is the oldest preferential trade agreement between developing countries in the Asia-Pacific region.
Its aim is to promote economic development and cooperation through the adoption of mutually beneficial trade liberalization
measures. APTA is open to all developing 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.
The Fourth Round, launched in October 2007, is 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).
known as the Bangkok Agreement and renamed 2 November 2005, was signed in
1975. It is the oldest preferential trade agreement between developing countries in the Asia-Pacific region.
Its aim is to promote economic development and cooperation through the adoption of mutually beneficial trade liberalization
measures. APTA is open to all developing members of the United Nations Economic and Social Commission for Asia and the Pacific
United Nations Economic and Social Commission for Asia and the Pacific
The Economic and Social Commission for Asia and the Pacific , located in Bangkok, Thailand, is the regional arm of the United Nations Secretariat for the Asian and Pacific region. It was established in 1947 to encourage economic cooperation among its member states...
, 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.
Member Nations
- BangladeshBangladeshBangladesh , officially the People's Republic of Bangladesh is a sovereign state located in South Asia. It is bordered by India on all sides except for a small border with Burma to the far southeast and by the Bay of Bengal to the south...
(original member, 1975) - ChinaChinaChinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
(acceded in 2001) - IndiaIndiaIndia , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
(original member, 1975) - Republic of Korea (original member, 1975)
- Lao People's Democratic Republic (original member, 1975)
- Sri LankaSri LankaSri Lanka, officially the Democratic Socialist Republic of Sri Lanka is a country off the southern coast of the Indian subcontinent. Known until 1972 as Ceylon , Sri Lanka is an island surrounded by the Indian Ocean, the Gulf of Mannar and the Palk Strait, and lies in the vicinity of India and the...
(original member, 1975) - NepalNepalNepal , officially the Federal Democratic Republic of Nepal, is a landlocked sovereign state located in South Asia. It is located in the Himalayas and bordered to the north by the People's Republic of China, and to the south, east, and west by the Republic of India...
Exchange of Tariff Concessions
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, is 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
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
- 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 BeijingBeijingBeijing , also known as Peking , is the capital of the People's Republic of China and one of the most populous cities in the world, with a population of 19,612,368 as of 2010. The city is the country's political, cultural, and educational center, and home to the headquarters for most of China's...
, ChinaChinaChinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
, and the Second Session held on 26 October 2007 in GoaGoaGoa , a former Portuguese colony, is India's smallest state by area and the fourth smallest by population. Located in South West India in the region known as the Konkan, it is bounded by the state of Maharashtra to the north, and by Karnataka to the east and south, while the Arabian Sea forms its...
, IndiaIndiaIndia , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
. The Third Session will be held on 22 October 2009 in SeoulSeoulSeoul , officially the Seoul Special City, is the capital and largest metropolis of South Korea. A megacity with a population of over 10 million, it is the largest city proper in the OECD developed world...
, 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.
Related links
- Asia-Pacific Trade Agreements Database
- Asian Clearing UnionAsian Clearing UnionThe Asian Clearing Union , with headquarters in Tehran, Iran, was established on December 9, 1974 at the initiative of the United Nations Economic and Social Commission for Asia and the Pacific...
- United Nations Economic and Social Commission for Asia and the PacificUnited Nations Economic and Social Commission for Asia and the PacificThe Economic and Social Commission for Asia and the Pacific , located in Bangkok, Thailand, is the regional arm of the United Nations Secretariat for the Asian and Pacific region. It was established in 1947 to encourage economic cooperation among its member states...
- Asia-Pacific Research and Training Network on Trade
- Free Trade AreaFree trade areaA free trade area is a trade bloc whose member countries have signed a free trade agreement , which eliminates tariffs, import quotas, and preferences on most goods and services traded between them. If people are also free to move between the countries, in addition to FTA, it would also be...
- Other Trade Agreements and Regional Organizations of the Asia-Pacific Region
- ASEAN Free Trade AreaASEAN Free Trade AreaASEAN Free Trade Area is a trade bloc agreement by the Association of Southeast Asian Nations supporting local manufacturing in all ASEAN countries....
(AFTA) - South Pacific Regional Trade and Economic Cooperation AgreementSouth Pacific Regional Trade and Economic Cooperation AgreementThe South Pacific Regional Trade and Economic Co-operation Agreement is a nonreciprocal trade agreement in which Australia and New Zealand offer duty-free and unrestricted access for specified products originating from the developing island member countries of the Pacific Islands Forum...
(SPARTECA) - South Asian Free Trade AreaSouth Asian Free Trade AreaThe South Asian Free Trade Area or SAFTA is a pact signed in 6 January 2004 that would gradually eliminate most tariffs and other trade barriers on products and services passing between the Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Afghanistan and Sri Lanka...
(SAFTA) - Pacific Islands Countries Trade Agreement (PICTA)
- Bay of Bengal Initiative for MultiSectoral Technical and Economic Cooperation (BIMSTECBIMSTECBay of Bengal Initiative for MultiSectoral Technical and Economic Cooperation is an international organisation involving a group of countries in South Asia and South East Asia...
) - Commonwealth of Independent States Free Trade Agreement (CISFTA)
- ASEAN Free Trade Area