The objective of this agreement was to establish an ASEAN Free Trade Agreement (AFTA). The countries currently affected by AFTA are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. In 2007, ASEAN leaders established the ASEAN Economic Community (AEC) with almost all tariffs and a plan to further liberalize the services, capital and labour sectors. Further negotiations are ongoing. Thailand is negotiating with other ASEAN members negotiations with China, Japan, Australia, Korea, New Zealand and India for a Regional Comprehensive Economic Partnership Agreement (RCEP). . . .
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