The objectives of the agreement are to:
strengthen and enhance economic, trade and investment cooperation between the parties;
progressively liberalise and promote trade in goods and services as well as create a
transparent, liberal and facilitative investment regime; explore new areas and develop 31 appropriate measures for closer economic cooperation between the parties; and facilitate
the more effective economic integration of the newer ASEAN Member States and bridge the development gap among the parties (ASEAN Secretariat, 2007a).