Asia Pacific Trade Agreement APTA. China India Korea

Also available in: Acuerdo Comercial Asia Pacífico Affaires Asie   Negocios Asia

Course summary Asia-Pacific Trade Agreement (APTA):

The Asia-Pacific Trade Agreement (APTA), ex- Bangkok Agreement, signed in 1975 as an initiative of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). APTA is a preferential tariff arrangement that aims at promoting intra-regional trade through exchange of mutually agreed concessions by member countries.

APTA Member States: Bangladesh, China, India, Republic of Korea, Lao People's Democratic Republic and Sri Lanka.

APTA is the only operational trade agreement linking China and India, two of the fastest growing markets of the world with a consumer base of 2.4 billion people, as well as other major markets such as the Republic of Korea.

In 2005, APTA member states accounted for more than 11 per cent of world trade. Almost 30 per cent of Bangladesh’s imports originates from other APTA members. Over 23 per cent of exports from Republic of Korea is destined for other APTA members. The total trade volume of APTA members skyrocketed from a mere 140 million Dollars in 1976 to 3.1 trillion Dollars in 2008. Trade between China and India reached an astounding average annual growth rate of 34 per cent over the past decade; the numbers are 21 per cent for trade between the Republic of Korea and China and 16 per cent for trade between the Republic of Korea and India during the period.

Example of the course  Asia-Pacific Trade Agreement (APTA):

The six APTA members furthermore committed to expanding their cooperation into investment and trade facilitation by signing formal framework agreements in those two areas. A framework agreement on trade in services was also finalized and will be signed.

Example of the course  Asia-Pacific Trade Agreement (APTA) (In Chinese: 亚太贸易协定.

Topic: Globalization and regionalization - China’s Free Trade Agreements (FTA)