APTA - GS questions based on daily current affairs

ANSWER: Mongolia

Explanation:

• The Asia-Pacific Trade Agreement (APTA), previously known as the Bangkok Agreement was signed in 1975.
• It is the oldest preferential trade agreement between countries in the Asia-Pacific region.
• Bangladesh, China, India, Lao PDR, South Korea, and Sri Lanka are the parties to the APTA.
• Mongolia successfully concluded negotiations with all participating States for its accession to the Asia-Pacific Trade Agreement (APTA).
• Soon the strength will be seven countries.
• Original members were - India, Bangladesh, Sri Lanka, Lao PDR, Republic of Korea
• China acceded in 2001 and Mongolia in 2013.

ANSWER: Bangkok Agreement

Explanation:

• 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 countries in the Asia-Pacific region.
• Six Participating States- Bangladesh, China, India, Lao PDR, South Korea, and Sri Lanka are the parties to the APTA.
• It is for trade expansion through exchange of tariff concessions among developing country members of the Asia Pacific Region.