APTA is a preferential trade regime for the gradual liberalisation and expansion of merchandise trade in the Asia-Pacific Economic and Social Commission (ESCAP) region through the liberalisation of tariff and non-tariff barriers. Currently, Bangladesh, Sri Lanka, South Korea, India and China exchange tariff concessions under APTA. At the 43rd permanent session in May 2014, Mongolia was invited to participate in APTA. It is the only PTA between India and China. As soon as the agreements go beyond the regional level, they need help. The World Trade Organization intervenes at this stage. This international body contributes to the negotiation and implementation of global trade agreements. These agreements between three or more countries are the most difficult to negotiate. The larger the number of participants, the more difficult the negotiations. They are, by nature, more complex than bilateral agreements, insofar as each country has its own needs and requirements. Trade agreements are an agreement between two or more countries on certain terms of trade, trade, transit or investment. These are usually mutually beneficial concessions.
Regional trade agreements refer to a treaty signed by two or more countries to promote the free movement of goods and services beyond the borders of its members. The agreement contains internal rules that Member States comply with each other. As far as third countries are concerned, there are external rules to which members comply. The preferential trade agreement requires the least commitment to removing trade barriers Trade barriers are legal measures taken primarily to protect a country`s national economy. They generally reduce the amount of goods and services that can be imported. These barriers are put in place in the form of tariffs or taxes and, although Member States do not remove barriers between them. There are also no common trade barriers in preferential trade zones. The countries participating in the Global Trade Preference System (GSTP) are Algeria, Argentina, Bangladesh, Benin, Bolivia, Brazil, Cameroon, Chile, Colombia, Cuba, Democratic People`s Republic of Korea, Ecuador, Egypt, Ghana, Guinea, Guyana, India, Indonesia, Iran, Libya, Malaysia, Mexico, Mexico, Mozambique, Myanmar, Nicaragua, Nigeria, Pakistan, Peru, Philippines, Republic of Korea, Romania, Singapore, Sri Lanka, Sudan, Thailand, Trinidad and Tobago, Tunisia, Tanzania, Yugoslavia, Zimbabwe. The Doha Round would have been the world`s largest trade agreement if the United States and the EU had agreed on a reduction in their agricultural subsidies.