ASEAN, AFTA, APT •
Where the ASEAN agreement was signed in Bangkok in 1967, there were only 5 official member states, Indonesia, Malaysia, Philippines, Singapore and Thailand.
Brunei signed in 1984, Vietnam in 1995, Laos and Myanmar in 1997 and since 1999 Cambodia is a member of the association.
All ASEAN member states also belong to AFTA, a trade zone with tariffs (CEPT) between 0-5%.
China, Japan and South Korea has formed a permanent forum in the ASEAN + 3 (APT) negotiations and has been participating in the meetings ever since.
Customs tariffs for non-members vary widely and show the strength of the ASEAN trade agreement and the community’s economy.
If your core business is located in the ASEAN area, it should be also considered for investments, to benefit from the advantages of the trade association. Although China is part of the APT, it does not get the full benefits of the CEPT agreement.