Market or mirage
Article Abstract:
The Association of South East Asian Nations (ASEAN) Free Trade Agreement (AFTA) has generated much skepticism since it went into effect early in 1993. AFTA includes the following ASEAN members: Brunei, Thailand, Singapore, the Philippines, Malaysia and Indonesia. AFTA is meant to create an integrated market by cutting tariffs on goods shipped between member countries. However, the varying rates at which AFTA's participants will reduce tariffs have drawn criticism from regional economists and businessmen. That only 19.6% of members' trade in 1991 was with each other does not auger well for AFTA.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Less haste, less speed: Asean scheme starts with tariff cuts
Article Abstract:
The Common Effective Preferential Tariff Scheme introduced by Asean on Jan 1, 1993, is the first step towards the creation of the Asean Free Trade Area (Afta) in 2008. The Scheme plans to reduce tariffs to 5% or less within 15 years, and Asean countries have ordered tariff cuts on 15 product groups which are divided into 'fast track' and 'normal track' groups. Indonesia and Philippines have the maximum temporary exemptions. The cuts may not, however, begin in all Asean countries simultaneously.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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Action at last
Article Abstract:
Leaders of the Association of South East Asian Nations (ASEAN) agreed to continue working together in pursuit of stronger political and economic ties. Other achievements of the fourth ASEAN summit meeting, held in Jan 1992 in Singapore, included a commitment to establish a free-trade area within the next fifteen years.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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