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ASEAN Free-Trade Area |
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ASEAN Free-Trade Area An agreement between members of ASEAN that seeks the reduction and/or elimination of tariffs between members at the encouragement of foreign direct investment. Goods originating in an ASEAN member state and exported to another may not have a tariff higher than 5% of the value of the good. It was signed in 1992 and became operational in 2003. Since it was originally created, prospective members of ASEAN have been required to sign on to the Free-Trade Area. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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