8 Questions
What is the main mechanism for achieving increased trade within AFTA?
Implementation of Common Effective Preferential Tariff (CEPT) scheme
What is the initial tariff reduction target on goods originating in ASEAN within 5 years under AFTA?
20%
When was the North American Free Trade Agreement (NAFTA) officially ratified and effective?
Ratified in 1992, effective from 1994
What is the primary goal of the Single Market within the European Community?
Reducing barriers to the movement of capital, goods, and people
Which regional bloc has moved beyond the Common Market to achieve deep integration of both market and non-market systems?
European Community
What is the potential danger associated with regional blocs in international trade?
Exclusiveness and protectionism toward non-member states
What has driven the emergence of regional blocs in the international economy?
Reduction of international trade barriers
In addition to reducing tariffs, what other goals are outlined in the AFTA framework agreement?
Removing non-tariff barriers (NTBs), harmonizing standards, and more.
Test your knowledge about the ASEAN Free Trade Area (AFTA) with this quiz. Explore questions related to the establishment, goals, and mechanisms of AFTA.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
