ASEAN Free-Trade Area (e-Course)Syllabus of the Online Course (Subject): ASEAN Free-Trade Area (AFTA). Tariff Liberalisation.
Example of the Online Course: ASEAN Free-Trade Area (AFTA)
Description of the Online Course: ASEAN Free-Trade Area (AFTA) The objective of the ASEAN Free-Trade Area is to reach free trade in products in the ASEAN Region to create a single market and production base for deeper economic integration of the ASEAN economies towards ASEAN Economic Community achievement by 2015. The Agreement on Common Effective Preferential Tariff Scheme for the ASEAN Free-Trade Area needs that tariff rates levied on a huge range of foreign trade of export products within the ASEAN Region be reduced to 5%. Most of the Association of Southeast Asian Nations (ASEAN) region is a free-trade area. Accounting for 96% of all international trade of the Association of Southeast Asian Nations, the first six signatories of the Common Effective Preferential Tariff Scheme for the ASEAN Free-Trade Area (AFTA) have reduced their custom tariffs on intra-regional trade to 5% for all export products to the “Inclusion list” or removed them in total. The member economies of the Association of Southeast Asian Nations (ASEAN) should eliminate import duties on all export products traded between them by 2010 for the ASEAN-6 and by 2015, with flexibility to 2018, for CLMV (Cambodia, Laos, Myanmar and Vietnam.).
For ASEAN-6, by 1 January 2009 (Brunei Darussalam, Indonesia, Malaysia, the Philippines, Singapore, and Thailand)
For Laos, Myanmar, and Vietnam, import duties on all products are equal to or less than 5% by 2009. For Cambodia, import duties of at least 80% tariff lines are equal to or less than 5% by 2009. ASEAN Economic Community - ASEAN's Free Trade Agreements - Foreign Direct Investment (FDI) in the ASEAN Countries (c) EENI Business School & HA University |