Bangkok Agreement 2003

The fourth round of negotiations will focus on areas that go beyond traditional tariff concessions in order to deepen trade policy cooperation and integration. APTA members are currently negotiating three framework agreements on trade facilitation, trade in services and investment. In addition, APTA members exchange information on non-tariff measures. Peru and Thailand began discussions in July 2002 on strengthening trade relations. In October 2002, Peru and Thailand agreed to conclude a framework agreement on a bilateral free trade agreement (FTA). A framework agreement on an economic association was signed on 17 October 2003. This agreement has opened negotiations for a free trade agreement. The framework agreement was ratified by the Peruvian Congress on 3 December 2004 and proclaimed on 23 December 2004. The Thai government sarated the agreement on 18 October 2005. The first round of negotiations for a free trade agreement took place in Bangkok, Thailand, on 29 and 30 January 2004. On 19 November 2005, after seven rounds of negotiations, a protocol to accelerate the liberalization of trade in goods and trade was signed. This protocol summarizes the progress made in the negotiations for a free trade agreement. The two countries then signed an additional protocol to the protocol on 16 November 2006.

The second additional protocol to the Memorandum of Understanding was signed in Singapore on 13 November 2009. On 18 November 2010, the third additional protocol to the protocol was signed in Bangkok. The Asia-Pacific Trade Agreement (APTA), formerly known as the Bangkok Agreement[1] and renamed on November 2, 2005,[2] was signed in 1975. It is the oldest preferential trade agreement between countries in the Asia-Pacific region. Seven participating states – Bangladesh, China, India, Lao PDR, Mongolia, Republic of Korea and Sri Lanka – are parties to APTA. The APTA pact occupies the market for 2921.2 million people [2] and the size of this large market represents $14615.86 billion in gross domestic product (GDP) in the 2015-16 fiscal year. [3] APTA`s main objective is to accelerate economic development among the seven participating states that opt for trade and investment liberalization measures that, through the coverage of goods and services, synchronized investment and the free transfer of technology, will contribute to the coverage of intra-regional trade and economic strengthening. Its aim is to promote economic development and cooperation through trade liberalization measures. The AptA is open to all members of the United Nations Economic and Social Commission for Asia and the Pacific, which serves as the secretariat of APTA. APTA members are currently participating in the fourth round of tariff concessions, which is expected to end in October 2009. [4] The fourth round, launched in October 2007, was to be concluded by the Third Council of Ministers in October 2009.

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