ASEAN FREE TRADE AREA (AFTA)
Effective Jan 1, Malaysia, Brunei, Indonesia, Philippines, Singapore and Thailand will be a complete Asean Free Trade Area (Afta). These countries will be eliminating duties on all products, except for a small number of sensitive agriculture products; for these products, the duties will be kept at 5%. Malaysia has committed to eliminating duties on 1,943 tariff lines. In addition to the tariff elimination of Asean-6, Cambodia, Laos, Myanmar and Vietnam will reduce duties to 0%-5% on 98.86% of their products under intra-Asean trade.
Furthermore, based on the commitments under Afta, Vietnam will be eliminating duties on 80% of its products on Jan 1. These four countries will be eliminating duties on all products by 2015.
The 1,943 tariff lines’ products list is as follow:
Source: MITI