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 ?
Finalists are judged by the AFTA Panel before winners are announced at the AFTA Gala Dinner in Sydney on 19 July 2014.
Thus the import reduction value utilizing AFTA for Indonesia, Malaysia, and Thailand is roughly 1.
AFTA supports the creation of a work group that will focus on developing an alternative to the DSM for the conceptualization of emotional distress.
Morales called on Uribe several times to renegotiate AFTA with the US regarding soy-related issues (something Uribe said he would only do if Morales convinced Bush to allow it) and to respect norms that both countries have agreed to as members of the Comunidad Andina de Naciones (CAN).
He singled out the AFTA requirement that cars sold within Southeast Asia must have at least 40 percent local content for local automakers to enjoy tax breaks, suggesting it is set too low.
Two external forces could prompt Arab states to more speedily resume the AFTA negotiating process: American and European governments are offering competing visions of the economic future of the Middle East.
Interviews with representatives from the Association for the Advancement of Small Business (PUPUK) and the Indonesian Society of Small and Medium Scale Entrepreneurs (KUKMI) revealed that no information regarding AFTA has been distributed amongst these constituencies.
The Common Effective Preferential Tariff (CEPT) scheme for AFTA requires that tariff rates levied on a broad range of products traded within the region be cut to no more than 5%, and that quantitative restrictions and other nontariff barriers be eliminated.
Foreign Commercial Service and a special interest in the Caribbean Basin Initiative, NAFTA and AFTA, plus nearly a half a century in foreign trade.
For those interested in ASEAN trade and investment issues, the comprehensive chapters on AFTA (Nattapong Thongpakde) and AIA (Nick J.
Any such offer would now face strong opposition from British Prime Minister Tony Blair, truly a would-be Napoleonic figure, who knows that in an AFTA the job opportunities for Messiahs would be limited.
AFTA benefited from having planned for the possibility of large gifts, albeit without the expectation of anything like the Lilly gift.