The selected article delves into the changes in trade patterns that have occurred with the implementation of AFTA (ASEAN Free Trade Area) agreement in 1992. The member countries comprise of Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand…
Download file "ASEAN Free Trade Area" to see previous pages...
The AFTA agreement aims at promoting free trade in the region by bringing down the tax barriers and making the trade related policy framework to be more encouraging. The agreement can be understood as a kind of regional liberalization of trade policies that are favorable for boosting regional trade.
Further the article focuses to find out whether if formation of this agreement has created trade creation or trade diversion. Let us write or edit the essay on your topic "ASEAN Free Trade Area" with a personal 20% discount.. Try it now Trade creation can be considered as a development whereas trade diversion from the non member nations to the member nations can not be considered as a positive development.
An important instrument for applying the trade agreement in the total region is the Common Effective Preferential Tariff scheme that requires the tariff of certain commodity to fall below zero to five percent. These commodities include capital and non capital as well as manufactured goods. This process of liberalization and eliminating the identified commodities from taxable commodities has been phased out in for phases. This has been done in order to prevent any instantaneous impact over the respective national economies of the member countries. A gradual tariff reduction would assure that the change shall be absorbed over a period of years and thus promote trade.
After fifteen years of the agreement, it can be observed that the countries have largely succeeded in achieving the goals.
...Download file "ASEAN Free Trade Area" to see next pagesRead More
Cite this document "ASEAN Free Trade Area"
(“ASEAN Free Trade Area Essay Example | Topics and Well Written Essays - 500 words”, n.d.)
ASEAN Free Trade Area Essay Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/miscellaneous/1526688-asean-free-trade-area
(ASEAN Free Trade Area Essay Example | Topics and Well Written Essays - 500 Words)
ASEAN Free Trade Area Essay Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/miscellaneous/1526688-asean-free-trade-area.
“ASEAN Free Trade Area Essay Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/miscellaneous/1526688-asean-free-trade-area.
Cited: 0 times
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC "ASEAN Free Trade Area"
China emerged as the next economic superpower and aggressively increased its military muscle. Japan, Singapore, Hong Kong, Taiwan and South Korea maintained a substantial growth rate of GDP. This magnificent growth would not have been possible without economic liberalization.
Although many developed countries are still practising protectionism, they have realised the importance of free trade in economic development. Several bilateral agreements and multilateral agreements have been signed by many countries to allow flow of goods amongst the member countries
The policy belief will shed light on the date that the trade agreement was signed by the heads of the eleven countries. It will also explain how trade is conducted among the countries, the tariffs used and the benefits that the countries enjoy as a result of the free trade.
suggestion for a master-plan that can be employed as a future pathway where ASEAN political-security support must be going towards in the forthcoming years.
To start with let us have a brief introduction of the organization. The economic development of a country largely depends
In Mekong River, disputes have continued to arise in several islands, and this has halted the completion of the demarcation with Laos. Even though there have been talks about continuing the border committee, Thailand is in a continued battle with Karen, ethnic rebels,
The idea of geographical vicinity and sharing of common features as to resources and output further translated into common market, common currency and ultimately political integration. The emergence of European
The ASEAN vision 2020 was partly inspired by the existing initiatives like ASEAN Foreign Trade Area. The effectiveness of ASEAN Foreign Trade Area (AFTA) is not only reflected in the network of arrangements, but also
The study leads to the conclusion that regional trade agreements bring freedom of movement as well as increased trade opportunities. Implementation of these agreements will cause democratic and social progress that will be impossible without them. Although some critics argue that these new forms of trade will bring new challenges, it will also bring new levels or opportunities.
Trade barriers are reduced through adapting free trade where countries export their goods to neighboring countries without being taxed. Through regional integration, business organizations are able to penetrate new markets in the bordering countries (Volz, 2011, p.58).
3 Pages(750 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"ASEAN Free Trade Area"
with a personal 20% discount.