B. Major Trends in ASEAN Trade
Removal of trade barriers and enhancement of trade facilitation
are among the most important and earliest economic
integration initiatives that ASEAN has been pursuing. The
removal of trade barriers has been centred on the removal of
intra-ASEAN tariffs through commitments on Common Effective
Preferential Tariff (CEPT) under the ASEAN Free Trade Area
(AFTA). With the coming into effect of the ASEAN Trade in Goods
Agreement (ATIGA) in May 2010, a more comprehensive
approach has also been taken to further facilitate trade beyond
the removal of formal trade restrictions (i.e. tariffs) through more
simplified, harmonised and streamlined customs documents,
and rules and procedures, as well as removal of other technical
barriers to trade. Goods are expected to move more easily across
borders due to reduction in transaction time, costs and technical
barriers to trade, benefiting both exporters, importers, producers
and consumers, enhancing intra-ASEAN trade and contributing
to the broader regional integration agenda.
The following sections attempt to highlight key trends in ASEAN
trade and the overall trade performance including intra-ASEAN
trade for the period 1993-2013