The ASEAN Free Trade Area (AFTA) is an agreement among the ten member countries of the Association of Southeast Asian Nations (ASEAN) to promote trade and economic cooperation. By reducing tariffs and other trade barriers, AFTA aims to make it easier for countries like Indonesia, Thailand, and Vietnam to trade goods with each other. This helps boost economic growth and creates more job opportunities in the region.
AFTA encourages businesses to expand their markets and invest in neighboring countries. By fostering a more integrated economy, the member nations can compete better on a global scale. Overall, AFTA plays a crucial role in enhancing regional stability and prosperity.