Automakers see great opportunities to export cars to ASEAN, as tariffs will be reduced to zero from 2018 as part of the ASEAN Free Trade Agreement. However, to qualify for the zero per cent tariff, Vietnamese products must have a minimum lolocation rate of 40%. Truong Hai Automobile has […] The ASEAN Comprehensive Investment Agreement (CFIA) came into force on 29 March 2012 and was signed by ten ASEAN member states. Its objective is to support a free, open, transparent and integrated investment regime in the Association of Southeast Asian Nations (ASEAN) region, in line with the goal of an ASEAN economic community by 2015. The aim is also to promote increased investment within ASEAN and to improve ASEAN`s competitiveness in attracting foreign investment to ASEAN, in order to achieve economic integration within the framework of the AEC, in accordance with the AEC-Blueprint. The ASEAN-Hong Kong Free Trade Area came into force on 11-6/2019. As part of the agreement, Myanmar is expected to reduce tariffs in 2019. 2020, 2021, 2022, 2023, 2024, 2025, 2026, 2027, 2028, 2029, 2030, 2031, 2032, 2033, 2034, 2035, 2036, 2037, 2038, 2039. Includes websites and other resources that allow U.S. companies to get more information about how they can use these agreements. In order to encourage increased use of the CEPTAFTA system, a major transformation has also been adopted as an alternative rule for determining the origin of CEPT products.
The CEPT Rules of Origin Task Force is currently working on key processing rules for certain product sectors, including wheat flour, iron and steel, and the eleven priority integration sectors covered by Bali Concord II. ASEAN exports increased their upward trend in the two years following the 1997-98 financial crisis and peaked in 2000, when total exports were valued at $408 billion. Following the fall in ASEAN exports to $366.8 billion in 2001 as a result of the economic slowdown in the United States and Europe and the recession in Japan, ASEAN exports recovered in 2002 to $380.2 billion. The upward trend in ASEAN-6 continued until the first two quarters of 2003. In the first two quarters of 2003, intra-ASEAN trade increased by 4.2% and 1.6% respectively in exports and imports. [Figures 2, 3 and 4] Efforts to close the development gap and expand trade among ASEAN members are essential elements of the political debate. According to a 2008 research mandate published by the World Bank as part of its “Trade Costs and Relief” project, ASEAN members have the potential to reap significant benefits from investment in new trade facilitation reforms, as a result of the important customs reform already implemented by the ASEAN Free Trade Agreement. ASEAN, the association of Southeast Asian nations, is gaining importance as a trading bloc and is the third largest in the world after the European Union and the North American Free Trade Agreement.
It includes the Asian Tigers of Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam (ASEAN 6) with smaller players such as Brunei, Cambodia, Laos and Myanmar, with a total GDP of $2.31 trillion (2012) and hosts about 600 million people. Other ASEAN agreements are being negotiated, including with Japan, which already has a number of important economic partnerships, while South Korea already has a free trade agreement. Both resemble the above – the reduction of more than 90% of all goods traded between ASEAN and these countries. An international agreement entitled: Agreement establishing the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), signed on 27 February 2009 in Cha-am, Phetchaburi, Thailand, has created a free trade area between ASEAN countries, Australia and New Zealand.  This new analysis proposes to examine two key areas, including port facilities and