ASEAN ASEAN Economics and Trade

Question 1

What is the ASEAN Free Trade Area (AFTA) primarily designed to do?

Accepted Answer

Eliminate tariffs among ASEAN member states

Answer

Create a common currency

Answer

Establish a unified military force

Answer

Regulate immigration between members

Question 2

Which ASEAN initiative replaced AFTA and focuses on a broader integrated market?

Accepted Answer

ASEAN Economic Community (AEC)

Answer

ASEAN Investment Area

Answer

ASEAN Free Zone

Answer

ASEAN Monetary Union

Question 3

What percentage tariff rate did ASEAN-6 members achieve under the Common Effective Preferential Tariff (CEPT) scheme?

Accepted Answer

0–5%

Answer

10–15%

Answer

20–25%

Answer

5–10%

Question 4

Which country is ASEAN's largest economy by GDP?

Accepted Answer

Indonesia

Answer

Thailand

Answer

Philippines

Answer

Malaysia

Question 5

What does the ASEAN Single Window (ASW) facilitate?

Accepted Answer

Electronic exchange of trade documents between member states

Answer

Joint visa processing for tourists

Answer

Unified stock market listings

Answer

Common agricultural standards

Question 6

Which ASEAN agreement covers trade in services and investment alongside goods?

Accepted Answer

ASEAN Framework Agreement on Services (AFAS)

Answer

ASEAN Trade in Goods Agreement (ATIGA)

Answer

ASEAN Comprehensive Investment Agreement (ACIA)

Answer

Regional Comprehensive Economic Partnership (RCEP)