BANGKOK (IDN) – At a United Nations forum, Bangladesh, China, India, Laos, South Korea and Sri Lanka have agreed to more than double the number of products under preferential tariff treatment in order to expand trade and boost growth in the region.
The six countries are party to the Asia-Pacific Trade Agreement (APTA), previously named the Bangkok Agreement, signed in 1975 as an initiative of United Nations Economic and Social Council for Asia and the Pacific (ESCAP), which functions as the APTA secretariat.