The Asia Pacific Trade Agreement (APTA), previously the Bangkok Agreement, is a preferential tariff arrangement that aims at promoting intra-regional trade through the exchange of mutually agreed concessions by member countries. Its current Members are Bangladesh, China, India, Republic of Korea, Lao PDR and Sri Lanka. Mongolia has concluded bilateral negotiations on tariff concessions and is to become the seventh member.
APTA recognizes the special needs of LDCs and calls for concrete preferential measures in their favour (Article 3). Participating States may grant special concessions to LDC members (Article 7) and commit to giving special consideration for requests from participating LDCs for technical assistance. In practice, in successive trade liberalization rounds, most members made special concessions to LDCs (see the concessions lists for the Fourth Round here).
Rules of origin conditions are also more flexible for LDCs. The value addition requirement is 35%, compared to 45% for non-LDCs; regional cumulation is allowed with a value addition requirement of 50% compared to 60% for non-LDCs.
Preferences under APTA may overlap with the separate DFQF schemes of China, India and the Republic of Korea, as well as with preferences under the regional trade agreements SAFTA, ASEAN-China, ASEAN-India and ASEAN-Republic of Korea.
References and resources:
Asia Pacific Trade Agreement (UNESCAP)