Asia Pacific Trade Agreement Item List

It is one of the largest trade pacts ever signed, with its member states representing nearly a third of the world`s population and economic performance. Any disputes which may arise between the participating States concerning the interpretation and application of the provisions of this Agreement or of an instrument adopted within its framework shall be settled amicably by an agreement between the Parties concerned. In the event that the participating States do not settle a dispute between them, the dispute shall be referred to the Standing Committee for settlement. The Standing Committee shall examine the matter and make a recommendation thereon within 120 days of the date on which the dispute was submitted to it. The Standing Committee shall adopt appropriate provisions to this end. The third round, which entered into force on 1 September 2006, resulted in tariff concessions for more than 4,000 articles.