Explanation:

• The Asia-Pacific Trade Agreement (APTA), previously known as the Bangkok Agreement was signed in 1975. It is the oldest preferential trade agreement between countries in the Asia-Pacific region. Hence statement 1st is incorrect.
• Seven Participating States- Bangladesh, China, India, Lao PDR, Mongolia, Republic of Korea, and Sri Lanka are the parties to the APTA. APTA is open to all members of the United Nations Economic and Social Commission for Asia and the Pacific, which serves as the APTA Secretariat. India is a founding member. China acceded to APTA in 2001.
• APTA’s key objective is to promote economic development and cooperation through the adoption of trade liberalization measures
• APTA recognizes the special needs of LDCs and calls for concrete preferential measures in their favour (Article 3). Participating States may grant special concessions to LDC members (Article 7).