AFTA

ASEAN Free Trade Area is an agreement by the Association of Southeast Asian Nations, initiated in 1992 with the self-described goal to increase the "region’s competitive advantage as a production base geared for the world market".

AFTA consists of the Common Effective Preferential Tariff (CEPT) Agreement which requires that tariff rates for a wide range of products be lowered to 0-5%.

See also: trade bloc