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Template:ASIAN table
ASIAN Free Trade Area (AFTA) is an agreement by the Association of Southeast Asian Nations, of local manufacturing in all ASEAN countries. The Association of Southeast Asian Nations (ASEAN) is a political and economic organization of countries located in Southeast Asia. ...
When the AFTA agreement was originally signed, ASEAN had six members, namely, Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand. Vietnam joined in 1995, Laos and Myanmar in 1997 and Cambodia in 1999. AFTA now comprises the ten countries of ASEAN. All the four latecomers were required to sign the AFTA agreement in order to join ASEAN, but were given longer time frames in which to meet AFTA's tariff reduction obligations. 1995 (MCMXCV) was a common year starting on Sunday of the Gregorian calendar. ...
1997 (MCMXCVII) was a common year starting on Wednesday of the Gregorian calendar. ...
1999 (MCMXCIX) was a common year starting on Friday, and was designated the International Year of Older Persons by the United Nations. ...
The primary goals of AFTA seek to:
- Increase ASIAN's competitive edge as a production base in the world market through the elimination, within ASEAN, of tariffs and non-tariff barriers; and
- Attract more foreign direct investment to ASEAN.
The primary mechanism for achieving the goals given above is the Common Effective Preferential Tariff (CEPT) scheme, which established a schedule for phased tainitiated in 1992 with the self-described goal to increase the "region’s competitive advantage as a production base geared for the world market". A tariff is a tax placed on imported and/or exported goods, sometimes called a customs duty. ...
Foreign direct investment (FDI) is defined as a long term investment by a foreign direct investor in an enterprise resident in an economy other than that in which the foreign direct investor is based. ...
1992 (MCMXCII) was a leap year starting on Wednesday. ...
The proposal to set up a Free Trade Area in Asean was first mooted by the Thai Prime Minister Anand Panyarachun and the Thai proposal was agreed upon with amendments during the ASEAN Seniors Economic Official Meeting (AEM) in Kuala Lumpur. In January 1992, the ASEAN members then signed the Singapore Declaration at the heart of which was the creation of AFTA in 15 years. This is a comprehensive program of tariff reduction in the region, which is to be carried out in phases through the year 2008. This deadline was subsequently moved forward and AFTA became fully operational on January 1, 2003. Anand Panyarachun (born August 9, 1932) was Thailands Prime Minister twice, between 1991-1992 and once again in 1992. ...
Nickname: KL Motto: Maju dan makmur (Malay: Peace and progress) Location in Malaysia Coordinates: Country Malaysia State Federal Territory Establishment 1857 Granted city status 1974 Mayor Ruslin Hasan Area - City 243. ...
1992 (MCMXCII) was a leap year starting on Wednesday. ...
The disparity of economic development in the Asean countries and difference in political systems, for example, the Philippines follows a democratic system while Vietnam is a communist country, would initially suggest that the region is not exactly an ideal region for economic and political integration. However, Dent (1998) pointed out some factors, which may suggest just the opposite. There are several similarities as well as points of common interest between several of the Asean countries. AFTA was established with the aim of eliminating intra-regional tariffs, attracting direct foreign investment and improving the efficiency and competitiveness riff reductions within ASEAN, while leaving members free to set their own tariff levels against non-members. According to this mechanism, tariffs on goods traded within the ASEAN region, which meet a 40% ASEAN content requirement was supposed to be reduced to 0-5% by the year 2002/2003 (2006 for Vietnam, 2008 for Laos and Myanmar, and 2010 for Cambodia). Democracy (literally rule by the people, from the Greek δημοκÏατία-demokratia demos, people, and kratos, rule) is a form of government in which all the citizens contribute to the decision making process. ...
This article or section does not cite its references or sources. ...
ASEAN members have the option of excluding products from the CEPT in three cases:
- Temporary exclusions
- Sensitive agricultural products
- General exceptions (ASEAN Secretariat, 2004).
The CEPT scheme covers nearly 98% of all tariff lines in ASEAN. The only products not included in the CEPT Scheme by then, will be those in the General Exceptions category and sensitive agricultural products.
Over the course of the several years, the initial program of tariff reductions was broadened and accelerated and other "AFTA Plus" activities were initiated. This includes efforts to eliminate non-tariff barriers, harmonization of customs nomenclature, valuation, and procedures and development of common product certification standards among others.
With a population of over 550 million, companies now can exploit the opportunities presented by an integrated market of increasingly prosperous consumers.
Developments as of November 2004
On November 29th, at the ASEAN summit in Laos, the Free Trade Zone timeline was accelerated [1]. The new timeline is described below.
Countries that agree to eliminate tariffs among themselves:
Countries, to join in 2012: Image File history File links Flag_of_Brunei. ...
Image File history File links Flag_of_Indonesia_(bordered). ...
Image File history File links Flag_of_Malaysia. ...
Image File history File links Flag_of_the_Philippines. ...
Image File history File links Flag_of_Singapore_(bordered). ...
Image File history File links Flag_of_Thailand. ...
The ASEAN meeting was observed also by : Image File history File links Flag_of_Myanmar. ...
Image File history File links Flag_of_Cambodia. ...
Image File history File links Flag_of_Laos. ...
Image File history File links Flag_of_Vietnam. ...
Image File history File links Flag_of_the_Peoples_Republic_of_China. ...
Image File history File links Flag_of_Pakistan. ...
Image File history File links Flag_of_India. ...
Image File history File links Flag_of_South_Korea_(bordered). ...
Image File history File links Flag_of_Japan_(bordered). ...
Image File history File links Flag_of_Australia. ...
Image File history File links Flag_of_New_Zealand. ...
Footnotes - ^ Asean speeds up free trade move. BBC. Extracted November 24, 2005.
See also Brunei • Cambodia • Indonesia • Laos • Malaysia • Myanmar • Philippines • Singapore • Thailand • Vietnam A trade bloc is a large free trade area or free trade area formed by one or more tax, tariff and trade agreements. ...
The Association of Southeast Asian Nations (ASEAN) is a political and economic organization of countries located in Southeast Asia. ...
Image File history File links Flag_of_ASEAN.svg Description Flag of the Association of Southeast Asian Nations (ASEAN). ...
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