Trade Agreements
ASEAN Free Trade Area
Area of Cooperation
Goods and Dispute Resolution
Sign Date
January 1, 1992
In Force Date
January 1, 1992
Summary
Initiated in 1992, ASEAN Free Trade Area (AFTA) main mechanism used to reduce tariffs in ASEAN. It originally contained six members (Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand) the other four members (Vietnam -1995, Laos -1997, Myanmar-1997 and Cambodia-1999) joined after the original agreement was signed. In order to join ASEAN, they had to agree to AFTA. The overall objective of AFTA is to encourage more foreign investment to ASEAN and establish ASEAN as a world competitor by eliminating both tariff and non-tariff barriers within ASEAN. Over the next 15 years, ASEAN agreed to reduce tariffs 0-5%.
http://www.aseansec.org/19346.htm
| Rules of Origin |
| I. No tariff heading change necessary II. Minimum contnt: 45 percent (35 percent for LDC's) III. No specific manufacturing process required |
| Contingency |
| I. Anti-dumping: allowed after consultation II. Countervailing duties: allowed after consultation III. Safeguards: allowed after consultation |
| Official Document |
| News/Studies |
I. “ASEAN speeds up free trade move” II. “ASEAN confident of concluding FTAs with partners by
2013” III. “ASEAN Summit to focus on security, trade and energy
issues” IV. “From AFTA towards an ASEAN Economic Community...and beyond” http://www.cris.unu.edu/admin/documents/20050310133227.OP%202005%202%20-LC-PDL-SV-ASEAN-2005.pdf V. Regional Business Development in ASEAN : AFTA” VI. “Looking Beyond AFTA: Prospects and Challenges for
Inter-Regional Trade” |
| Scope |
i.
Regional
(ESCAP) |
| Rules of Origin |
i.
No
tariff heading change necessary
ii.
Minimum
content: 45% (35% for LDC's)
iii.
No
specific manufacturing process required |
| Contingency |
i.
Anti - Dumping : allowed, after consultation
ii.
Countervailing Duties : allowed, after
consultation |
| News/Studies |
i.
“ASEAN
speeds up free trade move” http://news.bbc.co.uk/1/hi/world/asia-pacific/4050563.stm
ii.
“ASEAN
confident of concluding FTAs with partners by 2013” http://www.channelnewsasia.com/stories/economicnews/view/296149/1/.html
iii.
“ASEAN
Summit to focus on security, trade and energy issues” http://english.people.com.cn/200612/07/eng20061207_329630.html
iv.
“From
AFTA towards an ASEAN Economic Community...and beyond”
http://www.cris.unu.edu/admin/documents/20050310133227.OP%202005%202%20-LC-PDL-SV-ASEAN-2005.pdf
v.
“Regional
Business Development in ASEAN : AFTA” vi. “Looking Beyond AFTA: Prospects and Challenges for Inter-Regional Trade” http://dirp4.pids.gov.ph/ris/pdf/pidsdps0110.PDF |
| Additional Links |
i.
http://mba.tuck.dartmouth.edu/cib/trade_agreements_db/archive/Bangkok.pdf
ii.
http://www.aseansec.org/pdf/afta.pdf
iii.
http://www.aseansec.org/12025.htm
iv.
“Us-ASEAN
Business Council”
v.
“ASEAN
Free Trade Area”
vi.
http://www.moc.go.th/thai/dbe/AFTA-NET.html |