an example of a free trade agreement for small countries is the ASEAN Free Trade Area (AFTA) with Brunei, Indonesia, Malaysia, Philippines, Singapore, Thailand, Cambodia, Laos, Myanmar, Vietnam signed on 28 January 1992 in Singapore.
The primary goals of AFTA seek to:
Increase ASEAN'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.
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.
source from: http://en.wikipedia.org/wiki/ASEAN_Free_Trade_Area
The primary goals of AFTA seek to:
Increase ASEAN'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.
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.
source from: http://en.wikipedia.org/wiki/ASEAN_Free_Trade_Area
e-globalised-4 blogged at 6:14 PM
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an example of a free trade agreement for small countries is the ASEAN Free Trade Area (AFTA) with Brunei, Indonesia, Malaysia, Philippines, Singapore, Thailand, Cambodia, Laos, Myanmar, Vietnam signed on 28 January 1992 in Singapore.
The primary goals of AFTA seek to:
Increase ASEAN'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.
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.
source from: http://en.wikipedia.org/wiki/ASEAN_Free_Trade_Area
The primary goals of AFTA seek to:
Increase ASEAN'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.
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.
source from: http://en.wikipedia.org/wiki/ASEAN_Free_Trade_Area
e-globalised-4 blogged at 6:14 PM
