On March 7-9, the 52nd standing committee of Asia-Pacific Trade Agreement (hereinafter referred to as the agreement) and trade in service, investment and trade facilitation group meeting was held in Bangkok, Thailand. Delegates from member countries of the agreement attended the meeting. All sides mainly discussed to implement the Ministers’ Declaration released at the 4th FTAAP Ministerial Council and agreed in principle to carry out the achievement of the 4th round of tariff reduction negotiation--the 2nd amendment to the Asia-Pacific Trade Agreement. All sides also made in-depth talks on launching the 5th round of FTAAP tariff reduction negotiation and promoting trade in service, investment and trade facilitation negotiations.

The agreement is a preferential trade agreement reached among the developing countries including China, India, ROK, Sri Lanka, Bangladesh and Laos (Mongolia is fulfilling its domestic approval procedure) under the guidance of the U.N. Economic and Social Commission for Asia and the Pacific. The member countries of the agreement boast a huge market with about 3 billion people, crossing east Asia and south Asia--the two world economic growth poles. China joined the agreement officially in 2001. The agreement is the first preferential trade arrangement that China has joined and is also China’s only current agreement covering east Asia and south Asia.