Which Countries Have Free Trade Agreement with Asean

Free trade agreements have emerged as one of the most effective mechanisms for promoting trade and investment in today`s globalized world. The Association of Southeast Asian Nations (ASEAN) has been proactive in negotiating and signing free trade agreements (FTAs) with its key partners around the world. In this article, we will take a closer look at which countries have free trade agreements with ASEAN.

ASEAN was established in 1967 as a regional intergovernmental organization comprising ten member states: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The organization has been playing an increasingly important role in global trade, with the overall value of ASEAN`s trade reaching $2.9 trillion in 2019.

ASEAN`s external trade is driven by its FTAs with key partners, including China, Japan, South Korea, Australia, New Zealand, and India. Some of the countries that have free trade agreements with ASEAN are:

1. China: ASEAN and China signed a free trade agreement in 2002, which came into effect in 2010. The agreement aims to eliminate tariffs on goods traded between the two parties, increase cooperation in areas such as investment and intellectual property rights, and enhance economic integration between China and ASEAN.

2. Japan: ASEAN and Japan signed an Economic Partnership Agreement (EPA) in 2008, which came into effect in 2009. The EPA aims to promote trade and investment between the two parties by reducing tariffs and non-tariff barriers, improving market access, and boosting cooperation in areas such as intellectual property, e-commerce, and services.

3. South Korea: ASEAN and South Korea signed a free trade agreement in 2006, which came into effect in 2007. The agreement aims to promote trade and investment between the two parties by reducing tariffs and other barriers to trade, enhancing cooperation in areas such as investment, intellectual property, and e-commerce, and facilitating the movement of people between ASEAN and South Korea.

4. Australia and New Zealand: ASEAN and Australia and New Zealand signed a free trade agreement in 2009, which came into effect in 2010. The agreement aims to promote trade and investment between the two parties by reducing tariffs and other barriers to trade, enhancing cooperation in areas such as investment, intellectual property, and e-commerce, and facilitating the movement of people between ASEAN and Australia and New Zealand.

5. India: ASEAN and India signed a free trade agreement in 2009, which came into effect in 2010. The agreement aims to promote trade and investment between the two parties by reducing tariffs and other barriers to trade, enhancing cooperation in areas such as investment, intellectual property, and e-commerce, and facilitating the movement of people between ASEAN and India.

In conclusion, ASEAN`s free trade agreements with its key partners have played a crucial role in promoting trade and investment and enhancing economic integration in the region. These FTAs have helped to reduce tariffs and other barriers to trade, improve market access, and enhance cooperation in areas such as investment, intellectual property, and e-commerce. As ASEAN continues to play an increasingly important role in global trade, it is likely that more countries will seek to negotiate and sign free trade agreements with this dynamic regional organization.