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.
References in periodicals archive ?
Aside from playing an instrumental role in both Australia and global policy and promotion, AFTA also provides of diverse range of member benefits including financial, legal, marketing, accounting, education and training.
The first phase, however, has some outstanding issues to be completed though it has already been a phenomenal success in achieving the AFTA Agreement, which is now ratified by the minimum number of 22 countries required for its entry into force.
On the other hand, the country is firmly committed to help evolve a free trade community ndash beginning with the AFTA, to which we are deeply invested.
With Afta further pushed forward into the Asean Economic Community, the aim had always been to foster closer cooperation and regional economic integration through liberalized trade and investment among member-economies.
Egypt's imports from AFTA reached EGP 80bn, registering an increase of 12.6bn, compared to EGP 71.1bn in 2015, followed by the G-15 with imports totaling EGP 84.7bn in 2016, which is 30.4% higher than the EGP 64.9bn in 2015.
Orlando, FL, April 02, 2014 --(PR.com)-- IYC Travel, Classic Holidays' dedicated member travel agency, has been nominated in several categories for the 2014 AFTA National Travel Industry Awards.
The government has expanded corn cultivation areas due to the growth of the local livestock and poultry sectors and the need to prepare them for the ASEAN Free Trade Area (AFTA).
As an indicator for measuring the effects of FTA tariff reductions, I use, in this paper, a "tariff reduction value" calculated for China, Indonesia, Malaysia, Thailand, and Vietnam when ACFTA and AFTA are utilized (Chart 1).
The Innovation Hub has funded Snappcab and mobile platforms, such as Go Metro for trains and Afta Robot for minibus taxis.
The 1,500 organisations affiliated to AFTA - the American Public Transportation Association - provide services used by more than 90% of public transportation users in the United States and Canada.
The Darul Afta of the Pakistan Ulema Council (PUC) has issued a fatwa saying that prominent scholars and experts of the Muslim world are convinced that polio drops do not contain anything that is harmful to health, or against Sharia law.
AFTA, a multidisciplinary group, does not support the current revision of the DSM, stating that it "continues a long history of ignoring research and excluding vital contributions of nonpsychiatric mental health disciplines." This statement refers to the substantial body of research concerning the role of relational factors in mental health and mental illness, and also refers to the large number of effective family treatments, including, but not limited to, family therapy.