Asia-Pacific Trade Agreement (APTA)

Description: Asia-Pacific Trade Agreement (APTA)

The objective of the Asia-Pacific Trade Agreement (APTA) is to set-up a preferential tariff arrangement to promote the intra-regional trade through the exchange of reciprocally agreed concessions among the member countries of the Asia-Pacific Trade Agreement: Bangladesh, the People's Republic of China, India, Korea, Laos, Mongolia, and Sri Lanka.

The Asia-Pacific Trade Agreement is the only working agreement involving China and India, two of the fastest growing emerging markets with 2.4 billion people.

Asia-Pacific Trade Agreement (APTA):

1. The member economies of the Asia-Pacific Trade Agreement represent 11% of the global trade
2. Near 30% of the imports from Bangladesh are from the other members of the Asia-Pacific Trade Agreement
3. 23% of the exports from the Republic of Korea are exported to other APTA members
4. Total bilateral trade volume of the Asia-Pacific Trade Agreement (APTA) members arises from a 140 million dollars (1976) to 3.1 trillion dollars
5. International Trade between China and India reached an amazing average annual growth rate of 34% over the past decade

The members of the Asia-Pacific Trade Agreement (APTA) furthermore committed to expanding their cooperation in foreign direct investment and Trade Facilitation. A framework agreement on Trade in Services was also finalised and will be signed.

The Asia-Pacific Trade Agreement (APTA) (formerly known as Bangkok Agreement) was signed on 1975 as an initiative of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).

The Asia-Pacific Trade Agreement (APTA) consists of one Muslim country (Bangladesh), one Hindu (India) and two Buddhists countries (Laos and Sri Lanka). China and Korea can be considered multi-religious countries (Buddhism, Confucianism, and Taoism)

The Asia-Pacific Trade Agreement belongs to:

1. Hindu Economic Area
2. Central Eurasian Economic Area of the Islamic Civilisation
3. Buddhist Civilisation

Indian Free Trade Agreements: Sri Lanka, Thailand, Indonesia, Singapore, ASEAN, South Korea, European Union, New Zealand, Africa-India, Mauritius, Canada, Australia, Gulf Cooperation Council, SACU, SAARC, BIMSTEC, IORA, ACU, EFTA, Chile, MERCOSUR, Andean Community...

Asia-Africa Growth Corridor

Chinese Free Trade Agreements (FTA): ASEAN, Singapore, Pakistan, New Zealand, Peru, Costa Rica, Chile, APEC, Shanghai Cooperation Organisation, European Union, Andean Community...

South Korean Free Trade Agreements: Africa-Korea, APEC, EFTA, United States, Singapore, ASEAN, European Union, India, Peru, Chile...

Almaty-Bishkek Economic Corridor

Eurasian Land Transport Initiative (Silk Road)

Economic Corridors related to the APTA Region:

1. Eurasian Land Transport Initiative (Silk Road, China-Europe)
2. Bangladesh-China-India-Myanmar Economic Corridor
3. Nanning-Singapore Economic Corridor
   1. Pan-Beibu Gulf Economic Zone
4. China-Mongolia-Russia Economic Corridor
5. East-West Economic Corridor (Myanmar-Thailand-Laos-Vietnam)
6. International North-South Transport Corridor (India-Russia)
7. International Transport and Transit Corridor of the Ashgabat Agreement
8. India-Chabahar (Iran)-Afghanistan Economic Corridor
9. China-Central Asia-West Asia Economic Corridor