AFTA: Effect on Malaysian Economy

Khurram Ghani

Abstract


The Global Economy has changed in very significant ways during the
past several decades and these changes are deeply rooted in the cross
boarder trade among countries. These transformations lead countries
to the formation of new Regional Blocs. Countries belonging to particular
regional bloc promotes free flow of capital, cheap labor and other
products, in order to strengthen there economy by signing Free Trade
Agreements (FTAs). The main purpose of signing FTA is to increase
there cross boarder trade by lowering taxes on there exports and imports
so that consumers can get products at the cheaper price. But every coin
has a flipped side; signing FTA does not guarantee that the signatories
will get benefit of it; the intentions of governments might be different.
The main purpose of this paper is to provide an overview of the effect
of Asean Free Trade Agreement (AFTA) on Malaysian Economy.


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