How will these decisions affect the various ASEAN economic agreements?
These new decisions will affect both the ASEAN Framework Agreement on Enhancing Economic Cooperation of 1992 and the Agreement on the Common Effective Preferential Tariff (CEPT) Scheme for the ASEAN Free Trade Area (AFTA) of 1992. These Agreements will be amended. All past decisions by the ASEAN Member Governments after 1992 which may affect the Agreements will also be accounted for in the amendment exercise. Q11. What other decisions have been made by the 26th AEM to support the acceleration of CEPT for AFTA? The 26th AEM had also agreed that: a. the harmonisation of tariff nomenclature, customs procedures and valuation systems in ASEAN be completed by the end of 1995; b. an AFTA Unit in the ASEAN Secretariat and National AFTA Units in the Member Governments be established as institutional infrastructure to support the implementation of CEPT for AFTA. ON-GOING IMPLEMENTATION ISSUES Q12. When Member Countries effect unilateral reductions in their tariffs, can they enjoy CEPT concession
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