Article | Open Access | Published: 10 December 2008
AFTA: Effect on Malaysian Economy
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Abstract:
The Global Economy has changed in very significant ways during the past several decades and these changes are deeply rooted in the cross border 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 their economy by signing Free Trade Agreements (FTAs). The main purpose of signing FTA is to increase their cross border trade by lowering taxes on their 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 Asian Free Trade Agreement (AFTA) on Malaysian Economy.
Keywords:
AFTA, Cross boarder trade, FTA, Global Economy and Regional Bloc
Publisher:
ILMA UNIVERSITY
Published:
10 December 2008
Issue:
Issue 2 : Volume 4
E-ISSN:
2409-6520
P-ISSN:
2414-8393
This is an open access article distributed under the terms of the Creative Commons Attribution CC BY 4.0 license, which permits any use, distribution, and reproduction of the work without further permission provided the original author(s) and source are credited.