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

AFTA was established in 1992 to eliminate tariffs on goods traded among ASEAN member states and boost regional competitiveness.

Question 2

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

Accepted Answer

ASEAN Economic Community (AEC)

Answer

The ASEAN Economic Community (AEC), launched in 2015, replaced AFTA with a broader vision of a single market and production base.

Question 3

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

Accepted Answer

0–5%

Answer

The ASEAN-6 (original members plus Brunei) reduced intra-ASEAN tariffs to 0–5% under CEPT, meeting the AFTA goal.

Question 4

Which country is ASEAN's largest economy by GDP?

Accepted Answer

Indonesia

Answer

Indonesia is ASEAN's largest economy, accounting for roughly 35% of the bloc's total GDP.

Question 5

What does the ASEAN Single Window (ASW) facilitate?

Accepted Answer

Electronic exchange of trade documents between member states

Answer

The ASEAN Single Window enables electronic submission and processing of import/export documents, speeding up cross-border trade.

ASEAN - Association of Southeast Asian Nations Practice Test