Which 5 Countries Have Free Trade Agreement With Asean

ASEAN member states have also decided to work towards removing non-tariff barriers. A work program to remove non-tariff barriers to trade, including the review process and cross-reporting; updating the working definition of non-tariff measures (NMMs) /non-tariff barriers (NB) in ASEAN; The creation of a database of all Member States-managed companies; and the final elimination of unnecessary and unjustified non-tariff measures is being finalized. The most important mechanism for achieving these objectives is the common system of effective preferential tariffs, which established a gradual timetable in 1992 to increase the region`s competitive advantage as a global market-oriented production base. ASEAN national authorities are also traditionally reluctant to share or cede sovereignty to the authorities of other ASEAN members (although ASEAN trade ministries regularly conduct cross-border visits to conduct on-site checks as part of anti-dumping investigations). Unlike the EU or NAFTA, joint teams to ensure compliance and control of violations have not been widely used. Instead, ASEAN national authorities must rely on the verification and analysis of other ASEAN national authorities to determine whether AFTA`s measures, such as the rule of origin, are being complied with. Differences of opinion may arise between national authorities. Again, the ASEAN secretariat can help resolve a dispute, but it has no right to resolve it. In order to encourage increased use of the CEPTAFTA system, a major transformation has also been adopted as an alternative rule for determining the origin of CEPT products.

The CEPT Rules of Origin Task Force is currently working on key processing rules for certain product sectors, including wheat flour, iron and steel, and the eleven priority integration sectors covered by Bali Concord II. ASEAN exports increased their upward trend in the two years following the 1997-98 financial crisis and peaked in 2000, when total exports were valued at $408 billion. Following the fall in ASEAN exports to $366.8 billion in 2001 as a result of the economic slowdown in the United States and Europe and the recession in Japan, ASEAN exports recovered in 2002 to $380.2 billion. The upward trend in ASEAN-6 continued until the first two quarters of 2003. In the first two quarters of 2003, intra-ASEAN trade increased by 4.2% and 1.6% respectively in exports and imports. [Figures 2, 3 and 4] The management of THE AFTA is managed by the national customs and trade authorities of each ASEAN member. The ASEAN secretariat is authorized to monitor and ensure compliance with AFTA`s measures, but it does not have the legal authority to enforce them. This has led to inconsistent decisions taken by the ASEAN national authorities. The ASEAN Charter aims to strengthen the capacity of the ASEAN secretariat to ensure consistent implementation of AFTA`s measures. This new analysis proposes to examine two key areas, including port facilities and competitiveness in Internet services. According to the report, reforms in these areas could increase ASEAN trade by 7.5% ($22 billion) and 5.7% ($17 billion). On the other hand, a reduction in tariffs on all ASEAN members on the South-East Asia regional average would increase intra-regional trade by about 2% ($6.3 billion).

[12] The ASEAN-India trade agreement came into force on 1 January 2010.