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What is Overview of ASEAN Free Trade Area (AFTA) about?

The ASEAN Free Trade Area (AFTA) was established in 1992 through an agreement signed by ASEAN member states to create a free trade area and comprehensively reduce tariffs in the region by 2008. AFTA aimed to eliminate non-tariff barriers and develop common standards to facilitate trade between ASEAN countries. Over time, the program expanded tariff reductions and added new members, including Vietnam, Laos, Myanmar and Cambodia, who had longer timelines to meet commitments.

Author

Wihl Mathew Zalatar

Language

EN