ASEAN Free Trade Area (AFTA)

The ASEAN Free Trade Area (AFTA) is a regional agreement among Southeast Asian countries to promote trade by reducing tariffs and other trade barriers. Established in 1992, AFTA aims to increase economic cooperation and bolster the competitive edge of the member nations. By making it easier and cheaper to trade goods among the 10 member countries, AFTA fosters economic growth, enhances market access, and strengthens regional ties. This collaboration helps member nations participate more effectively in the global economy while boosting investment and development in the region.