The First Agreement on Trade Negotiations among Developing Member Countries of the Economic and Social Commission for Asia and the Pacific, known as Bangkok Agreement, was established in 1975 as Asia’s first multi-member preferential trade agreement (PTA) between developing countries. China’s accession has provided the Agreement with new impetus and it links East and South Asia covering two most populous countries including India. The Agreement is now known as Asia-Pacific Trade Agreement (APTA). The objective of this paper is to present the Bangkok Agreement in the light of current revitalization efforts and to assess its future in the broader picture of trade in the region. The paper begins by providing an overview of the Agreement and its potential and goes on to summarize the measures being implemented as part of the revitalization process. Further, the paper provides with the factsheet of AFTA, October, 2007 and goes on to highlight the Customs Tariff (Determination of Origin of Goods under the Bangkok Agreement) Rules, 1976. Moreover, an assessment of the Third Round of Negotiations that took place from October 2001 to April 2003 has been made while analyzing India. With the Fourth Round of Negotiations being scheduled to be completed by October 2009, the final section discusses as to what is needed to be done in the future in order to build on the current momentum within the Agreement, and thus permit it to maintain its relevance in the region.
Suggested Citation: Suggested Citation
Gupta, Sayantan, The Bangkok Agreement: Prospects for Trade Expansion in the Asia-Pacific Region (June 25, 2009). The Business Law Reports, Forthcoming, Available at SSRN: https://ssrn.com/abstract=1461374
Civi Lines, Raipur
Raipur
India