ASEAN Free Trade Area

The ASEAN Free Trade Area (AFTA) is a regional agreement among the ten Southeast Asian countries that aims to boost trade by reducing tariffs and other trade barriers. Established in 1992, AFTA allows member countries—such as Indonesia, Malaysia, Singapore, Thailand, and the Philippines—to trade more easily with one another. By lowering costs for goods and services, AFTA encourages economic cooperation and growth within the region. This initiative helps to create a larger, more competitive market, enhancing the overall economic development of Southeast Asia.