Asean Free Trade Area Logo

The south asian free trade area safta is an agreement reached on january 6 2004 at the 12th saarc summit in islamabad pakistan it created a free trade area of 1 6 billion people in afghanistan bangladesh bhutan india the maldives nepal pakistan and sri lanka to reduce customs duties of all traded goods to zero by the year 2016.

Asean free trade area logo. Acfta asean china free trade agreement the asean china framework agreement on comprehensive economic cooperation was signed at the 6th asean china summit in november 2002 and the full establishment of asean china fta in january 2010 has provided a strong foundation for the enhancement of asean china economic relations. Asean has entered into a number of free trade agreements with other asian nations that are now radically altering the global sourcing and manufacturing landscape. The afta logo depicts asean s forward movement. The asean free trade area afta the asean free trade area afta has now been virtually established.

The safta agreement came into force on january 1 2006. The asean china free trade area acfta is a free trade area among the ten member states of the association of southeast asian nations asean and the people s republic of china. China first proposed the idea of a free trade area in. It stands as one of the largest and most important free trade areas fta in the world and together with its network of dialogue partners drove.

The solid color of this formation denotes that one bold step to create a free trade area which will eventually make asean one of the most efficient production basses the world. The six stalks of rice representing the six membe r countries in the asean logo have merged into a single formation that leans for ward. It has a treaty with china for example that has effectively done away with reduced tariffs on nearly 8 000 product categories or 90 percent of imported goods to zero. The trade bloc has grown to a combined nominal gross domestic product of us 17 trillion in 2019.