The ASEAN Free Trade Area (1992)

The ASEAN Free Trade Area (AFTA) is an agreement by the member states of the Association of Southeast Asian Nations aimed at increasing ASEAN's competitive edge as a production base in the global market. AFTA eliminates tariffs for trade in goods, investments, and services within ASEAN, fostering closer economic integration and creating a more dynamic and competitive market. It covers diverse agreements like the ASEAN Trade in Goods Agreement (ATIGA), the ASEAN Framework Agreement on Services (AFAS), and the ASEAN Comprehensive Investment Agreement (ACIA), promoting liberalization and facilitating trade and investments among member states.