AFTA (ASEAN Free Trade Area)

The ASEAN Free Trade Area (AFTA) is an agreement among Southeast Asian nations to promote trade by reducing tariffs and other trade barriers. Established in 1992, AFTA aims to create a more integrated economic region, making it easier for businesses in member countries to trade with one another. By lowering costs and encouraging competition, AFTA seeks to boost economic growth and attract foreign investment. This initiative includes ten countries, such as Indonesia, Malaysia, and Thailand, fostering regional cooperation and helping to strengthen economic ties within the ASEAN community.