The Bangladesh government has approved the draft to the second amendment of the Asia Pacific Trade Agreement (APTA), one of the oldest preferential trade agreements among nations in the Asia Pacific region. China, India, Bangladesh, Sri Lanka, South Korea and Laos are members of the group, which was earlier known as Bangkok agreement, later renamed as APTA.
Bangladeshi media reports quoted cabinet secretary Shafiul Alam as saying that amendment, while also revising the tariffs has also added Mongolia as a new member of APTA.The Bangladesh government has approved the draft to the second amendment of the Asia Pacific Trade Agreement (APTA), one of the oldest preferential trade agreements among nations in the Asia Pacific region. China, India, Bangladesh, Sri Lanka, South Korea and Laos are members of the group, which was earlier known as Bangkok agreement, later renamed as APTA.#
As per the APTA agreement, Bangladesh offers 10 to 70 per cent duty free access to 598 products from signatory countries, while also giving 20 to 50 per cent concession to four more products from Least Developed Countries (LDCs) within APTA.
On the other hand, China gives 5 to 100 per cent duty-free access to 2,191 products and India also provides 5 to 100 per cent duty free access to 3,334 goods. (AR)
Fibre2Fashion News Desk – India
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