DHAKA: Bangladesh Cabinet approved the draft of Asia-Pacific Trade Agreement (APTA) amendment that proposes inclusion of Mongolia as a member and renewal of the product list.

The approval came from a meeting in city’s secretariat on Monday (December 26) chaired by Prime Minister Sheikh Hasina.

After the meeting, cabinet secretary Mohammad Shafiul Alam told the matter to media adding that the agreement will get nod in Thailand cabinet meeting on January 13 if the existing member countries support the proposal.

Getting the APTA membership, Mongolia will join the alliance with Bangladesh, India, China, South Korea, Sri Lanka and Laos.

As a result, Mongolia will cut rate 10-30 percent on their 333 products.

Following the general list, the APTA members will reduce the price 10-70 percent on 598 products while the members of special list for LDC’ will get 20-50 percent reduction on more four products.

Moreover, Bangladesh is giving discount on 602 products to the APTA member countries.

The organization formed in 1975 following a trade agreement in Bangkok and named APTA in 2005.

BDST: 1743 HRS, DEC 26, 2016
BD/SMS