Asia-Pacific Trade Agreement (APTA) and India

Select Language Afrikaans Albanian Arabic Armenian Azerbaijani Basque Belarusian Bulgarian Bengali Catalan Chinese (Simplified) Chinese (Traditional) Croatian Czech Danish Dutch English Estonian Filipino Finnish French Galician Georgian German Greek Gujarati Haitian Creole Hebrew Hindi Hungarian Icelandic Indonesian Irish Italian Japanese Javanese Kannada Khmer Korean Latvian Lithuanian Macedonian Malay Maltese Marathi Nepali Norwegian Persian Polish Portuguese Punjabi Romanian Russian Serbian Slovak Slovenian Spanish Swahili Swedish Tamil Telugu Thai Turkish Ukrainian Urdu Vietnamese Welsh Yiddish

This is a collection of articles archived for the excellence of their content. Additional information may please be sent as messages to the Facebook community, Indpaedia.com. All information used will be gratefully acknowledged in your name.

Introduction

July 2, 2018: Press Information Bureau

APTA is an initiative under the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) for trade expansion through exchange of tariff concessions among developing country members of the Asia Pacific Region, in place since 1975. APTA is a Preferential Trade Agreement, under which the basket of items as well as extent of tariff concessions are enlarged during the trade negotiating rounds which are launched from time to time.

2018

Tariff concessions

July 2, 2018: Press Information Bureau

The results of 4th Round of negotiations under the Asia Pacific Trade Agreement (APTA) (formerly Bangkok Agreement) among six countries, namely, Bangladesh, China, India, Lao PDR, Republic of Korea, and Sri Lanka, have been implemented with effect from 1st July, 2018.

The 4th Round of trade negotiations were formally concluded and signed by the Ministers of the member countries during the meeting of the APTA Ministerial Council on 13th January, 2017. The decision of the Ministerial Council has now been implemented by all members with effect from 1 July 2018.

With the implementation of the Fourth Round, the coverage of preferences of total tariff lines for each member would come of 10,677 tariff lines (up from 4,270 items at the conclusion of the Third Round) and deepen the average Margin of Preference (MoP) being provided under the agreement to 31.52%. The Least Develop Country (LDC) members are entitled to greater concessions on 1,249 items with an average MoP of 81% on these items under the special and differential treatment provisions of the APTA.

India has, on its part, exchanged tariff concessions on 3142 tariff lines with all member countries and special concessions on 48 tariff lines for LDCs, with Bangladesh and Lao PDR.

As a founding member of APTA, India is committed to strengthening the APTA process through these concessions.