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The ASEAN Free Trade Area (AFTA) [1] is a trade bloc agreement by the Association of Southeast Asian Nations supporting local trade and manufacturing in all ASEAN countries, and facilitating economic integration with regional and international allies.
ASEAN-China Free Trade Area. The ASEAN-China Free Trade Area (ACFTA) was signed in 2004 and was implemented in July 2005. Through this FTA, China has consistently ranked as ASEAN’s largest investor over the last decade, with total trade of over US$731 billion in 2020.
The ASEAN Free Trade Area (AFTA) consists of three agreements – the ASEAN Trade in Goods Agreement (ATIGA), the ASEAN Framework Agreement on Services (AFAS) and the ASEAN Comprehensive Investment Agreement (ACIA). It eliminates tariffs for trade in goods, investments and services within the ASEAN region.
ASEAN Free Trade Area - Common Effective Preferential Tariff Scheme (AFTA-CEPT Scheme) 1. Agreement on the Common Effective Preferential Tariff
In 1992, ASEAN formed the ASEAN Free Trade Area (AFTA) - a trade bloc agreement for all ASEAN Member States (AMS) that support local trade and manufacturing in all nations and facilitates economic integration with regional and international allies.
The ASEAN Free Trade Area was established in January 1992 to eliminate tariff barriers among the Southeast Asian countries with a view to integrating the ASEAN economies into a single production base and creating a regional market of 500 million people.
ASEAN’s economic integration efforts began with the creation of the ASEAN Free Trade Area (AFTA) in 1992, which successfully reduced tariffs between ASEAN’s first six members (Brunei, Indonesia, Malaysia, the Philippines, Singapore, and Thailand) to 0–5 percent by 2002.
A monitoring database on Free Trade Agreement developments with Asia Pacific economies. Sort by status, notification to the WTO, type (either bilateral or plurilateral), or by regional groupings.
ASEAN Free Trade Area (AFTA) Agreements ASEAN has concluded and signed several agreements with the end goal of creating a single market and production base, characterized by free flow of goods, services, and investment, as well as freer flow of capital and labor.
In 1992, members created the ASEAN Free Trade Area (AFTA) with the goals of creating a single market, increasing intra-ASEAN trade and investments, and attracting foreign investment.