ASEAN Free Trade Area

[2][3][4] It stands as one of the largest and most important free trade areas (FTA) in the world, and together with its network of dialogue partners, drove some of the world's largest multilateral forums and blocs, including Asia-Pacific Economic Cooperation, East Asia Summit and Regional Comprehensive Economic Partnership.

When the AFTA agreement was originally signed, ASEAN had six members, namely, Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand.

ASEAN members have agreed to enact zero tariff rates on virtually all imports by 2010 for the original signatories, and 2015 for the CMLV countries.

Difficulties have sometimes arisen regarding the evidentiary proof to support the claim, as well as how ASEAN national customs authorities can verify Form D submissions.

These difficulties arise because each ASEAN national customs authority interprets and implements the Form D requirements without much co-ordination.

If these efforts are ineffective, they may ask SEOM (Senior Economic Officials Meetings) to establish panel of independent arbitrators to review the dispute.

This discourages ASEAN members from invoking the Protocol, and often they seek dispute resolution in other fora such as the WTO or even the International Court of Justice.

The ASEAN Secretary General has listed dispute resolution as requiring necessary reform for proper administration of AFTA and the AEC.

Efforts to close the development gap and expand trade among members of ASEAN are key points of policy discussion.

By contrast, cutting applied tariffs in all ASEAN members to the regional average in Southeast Asia would increase intra-regional trade by about 2% ($6.3 billion).

[25] Countries that agree to eliminate tariffs among themselves: Regular Observers The most recent ASEAN meeting was observed also by: An International treaty titled: Agreement Establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) signed in Cha-am, Phetchaburi, Thailand on 27 February 2009 created a free trade area between ASEAN nations, Australia and New Zealand.