18 Questions
What was the primary goal of the ASEAN Free Trade Area (AFTA) when it was established in 1992?
To increase intra-ASEAN trade and investments
Which of the following sectors have significant emphasis in the intra-ASEAN trade promoted by AFTA?
Electronics and automotive products
What was the tarif situation in the the ASEAN zone in 2021 as a result of AFTA's efforts?
Negligible, effectively zero
Which regional economic agreement extends the economic area of the ASEAN nations beyond their own geographic borders?
Regional Comprehensive Economic Partnership (RCEP)
What was the estimated total amount of potential tourism and trade losses in the ASEAN region due to the pandemic?
Close to $400 billion
Which of the following is NOT a security concern highlighted in the ASEAN region according to the text?
Environmental pollution
What is the main goal of a regional economic association?
Remove barriers to trade within the region
Which trade theory supports agreements promoting freer trade within regions?
Comparative advantage
When was the North American Free Trade Agreement (NAFTA) implemented?
1994
Which major country was NOT a part of the North American Free Trade Agreement (NAFTA)?
China
What is the main goal of the Association of Southeast Asian Nations (ASEAN)?
Promote socio-cultural, economic, and political advancement
What was the purpose of phasing out tariffs between NAFTA countries over several years?
To allow time for economic adjustments
When was the Association of Southeast Asian Nations (ASEAN) officially formed?
1967
Which U.S. Administration signed the North American Free Trade Agreement (NAFTA) into law?
Barack Obama administration
What was the original purpose of ASEAN when it was formed?
Contain the spread of communism
What is the role of ASEAN in relation to Asia-Pacific Economic Cooperation (APEC)?
It is an official observer of APEC
Which of the following countries was NOT among the initial five members of ASEAN?
Vietnam
What type of cooperation do member states engage in under the Caribbean Single Market and Economy (CSME)?
Monetary and fiscal policies sharing
Test your knowledge on the Association of South East Asian Nation (ASEAN) and regional economic agreements. Explore the concept of reducing tariff and non-tariff barriers among member countries for the free flow of goods, services, and factors of production.
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