ASEAN Free Trade Area (AFTA) is a form of agreement from ASEAN countries to establish a free trade area in order to improve regional economic competitiveness of ASEAN by making ASEAN as well as the world's production base and creating a regional market of 500 million inhabitants.
AFTA was established at Summit (Summit) Fourth ASEAN in Singapore in 1992. Initially targeted AFTA ASEAN Free Trade Area (AFTA) is a form of agreement from ASEAN countries to establish a free trade area in order to improve regional economic competitiveness of ASEAN by making ASEAN as a production base of the world will be achieved within 15 years (1993 to 2008 ), then accelerated into the year 2003, and finally accelerated again into 2002.
Common Effective Preferential Tariffs Scheme For ASEAN Free Trade Area (CEPT-AFTA) is a scheme for realizing AFTA 1 through: reducing tariffs to be 0-5%, the removal of quantitative restrictions and non-tariff barriers to others.
Recent developments related to AFTA is the agreement to abolish all customs duties for goods imports in 2010 Brunei Darussalam, Indonesia, Malaysia, Philippines, Singapore and Thailand, and for Cambodia, Laos, Myanmar and Vietnam in 2015.
ASEAN FREE TRADE ARES (AFTA)
A. What is the AFTA
ASEAN Free Trade Area (AFTA) is the ASEAN free trade area where there are no tariff barriers (tariffs 0-5%) and non-tariff barriers for ASEAN member countries, through AFTA-CEPT scheme.
2. What is the purpose of the establishment of AFTA?
The purpose of AFTA is to increase the economic competitiveness of ASEAN countries to make ASEAN as a production base of the world market, to attract investment and increase trade among ASEAN members.
3. When fully carried out AFTA?
AFTA in full force for ASEAN-6 countries from January 1, 2002 with flexibility (for certain products are still allowed to charge more than 0-5%). Target is applied to ASEAN-6 countries, while for the new state as follows: Vietnam (2006); Laos and Myanmar (2008), and Cambodia (2010).
4. What is the CEPT scheme?
Common Effective Preferential Tariff Scheme (CEPT) is a program of tariff reduction and elimination phases of non-tariff barriers are mutually agreed upon by ASEAN countries.
5. What products are covered under the CEPT-AFTA scheme?
All manufactured products, including capital goods and processed agricultural products, as well as products that are not included in the definition of agricultural products. (Sensitive agricultural products are highly sensitive and excluded from the CEPT scheme).
6. Quantitative restrictions on when and Non-Tariff Barriers abolished?
Quantitative restrictions eliminated as soon as a product to enjoy CEPT concessions, while the non-tariff barriers to be eliminated within a period of five years after a product to enjoy CEPT concessions.
AFTA was established at Summit (Summit) Fourth ASEAN in Singapore in 1992. Initially targeted AFTA ASEAN Free Trade Area (AFTA) is a form of agreement from ASEAN countries to establish a free trade area in order to improve regional economic competitiveness of ASEAN by making ASEAN as a production base of the world will be achieved within 15 years (1993 to 2008 ), then accelerated into the year 2003, and finally accelerated again into 2002.
Common Effective Preferential Tariffs Scheme For ASEAN Free Trade Area (CEPT-AFTA) is a scheme for realizing AFTA 1 through: reducing tariffs to be 0-5%, the removal of quantitative restrictions and non-tariff barriers to others.
Recent developments related to AFTA is the agreement to abolish all customs duties for goods imports in 2010 Brunei Darussalam, Indonesia, Malaysia, Philippines, Singapore and Thailand, and for Cambodia, Laos, Myanmar and Vietnam in 2015.
ASEAN FREE TRADE ARES (AFTA)
A. What is the AFTA
ASEAN Free Trade Area (AFTA) is the ASEAN free trade area where there are no tariff barriers (tariffs 0-5%) and non-tariff barriers for ASEAN member countries, through AFTA-CEPT scheme.
2. What is the purpose of the establishment of AFTA?
The purpose of AFTA is to increase the economic competitiveness of ASEAN countries to make ASEAN as a production base of the world market, to attract investment and increase trade among ASEAN members.
3. When fully carried out AFTA?
AFTA in full force for ASEAN-6 countries from January 1, 2002 with flexibility (for certain products are still allowed to charge more than 0-5%). Target is applied to ASEAN-6 countries, while for the new state as follows: Vietnam (2006); Laos and Myanmar (2008), and Cambodia (2010).
4. What is the CEPT scheme?
Common Effective Preferential Tariff Scheme (CEPT) is a program of tariff reduction and elimination phases of non-tariff barriers are mutually agreed upon by ASEAN countries.
5. What products are covered under the CEPT-AFTA scheme?
All manufactured products, including capital goods and processed agricultural products, as well as products that are not included in the definition of agricultural products. (Sensitive agricultural products are highly sensitive and excluded from the CEPT scheme).
6. Quantitative restrictions on when and Non-Tariff Barriers abolished?
Quantitative restrictions eliminated as soon as a product to enjoy CEPT concessions, while the non-tariff barriers to be eliminated within a period of five years after a product to enjoy CEPT concessions.
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