CURRENT AFFAIRS

Detailed explanation-1: -The Asia-Pacific Trade and Investment Report (APTIR) is a major annual publication of the Trade, Investment and Innovation Division of the United Nations Economic and Social Commission for Asia and the Pacific .

Detailed explanation-2: -The Asia Pacific Trade Agreement (earlier known as Bangkok Agreement) is an initiative under the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) for trade expansion through exchange of tariff concessions among developing country members of the Asia Pacific Region.

Detailed explanation-3: -Asia Pacific Trade Agreement (APTA), a preferential regional trade agreement formerly known as the Bangkok Agreement was signed in 1975. Its current members are Bangladesh, China, India, South Korea, Lao and Sri Lanka.

Detailed explanation-4: -APTA’s current members, known as Participating States, are Bangladesh, China, India, Lao PDR, Mongolia, Republic of Korea, and Sri Lanka. Mongolia acceded to APTA in September 2020. APTA aims to be an effective pan-regional comprehensive economic cooperation agreement.

Detailed explanation-5: -The Asia Pacific Trade Agreement (APTA) is a preferential trading arrangement designed to liberalise and expand trade in goods progressively in the Economic and Social Commission for Asia and Pacific (ESCAP) region. Agreement so far has been implemented by India, Bangladesh, Republic of Korea, Srilanka & China.