Asean Free Trade Agreement 2020

It will reach 30 percent of the global economy, 30 percent of the world`s population and 2.2 billion consumers, according to Vietnam. AFTA is managed by the national customs and trade authorities of each ASEAN member. The ASEAN Secretariat has the authority to monitor and ensure compliance with AFTA measures, but has no legal authority to enforce them. This has led to contradictory decisions by the ASEAN national authorities. The ASEAN Charter aims to strengthen the capacity of the ASEAN Secretariat to ensure consistent implementation of AFTA`s actions. The Regional Comprehensive Economic Partnership (RCEP), signed on 15 November, will boost foreign investment in low-skilled and less-skilled ASEAN countries. Meanwhile, China has welcomed RCEP as a victory. .