Question: Recently Union Cabinet has approved the exchange of tariff concessions, on Margin of Preference basis, under the Fourth Round of Negotiations under the Asia Pacific Trade Agreement (APTA) and related amendments. Currently, APTA consists of how many countries?
(a) 6
(b) 8
(c) 7
(d) 5
Ans: (a)
Related facts:
- On 12 September 2016 the Union Cabinet has approved the exchange of tariff concessions, on Margin of Preference basis, under the Fourth Round of Negotiations under the Asia Pacific Trade Agreement and related amendments.
- The current membership of APTA consists of six countries or Participating States (PSs), namely, Bangladesh, China, India, Lao PDR, Republic of Korea, and Sri Lanka.
- Mongolia has been included as the 7th APTA Participating State.
- The Asia Pacific Trade Agreement or APTA (formerly the Bangkok Agreement) 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.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=149708
http://www.unescap.org/apta/participating-states