AFTA is the peak body for Australia's travel agents, and represents the majority of travel agents in Australia.
We have to watch this carefully because this can be a backdoor entry into
AFTA,'' Mahathir told reporters.
Hyundai's move is the latest in a string of foreign carmakers that have strengthened their position in Malaysia to take advantage of market liberalization in Southeast Asia when
AFTA comes into being by 2003.
Protocols concluded after 1993 have extended the coverage of
AFTA to areas such as services and investment.
Rafidah said that
AFTA, under which ASEAN's six original members have undertaken to lower tariffs to less than 5% by 2002, with later target dates for its four newer members, ''is not a simply economic thing -- it's political.
1 this year, Thailand was among six of 10 members of ASEAN to cut import tariffs for 15 categories of products, including auto parts, to zero to 5% in accordance with the so-called
AFTA fast track.
The
AFTA Committee was established in response to recommendations of the 1995 joint study, Financial Reporting in North America.
As a better understanding and acceptance of NDC by airlines becomes apparent, it is timely to now undertake this research study to investigate how travel agents might benefit from the implementation of the standard said Jayson Westbury CEO,
AFTA.
Under
AFTA, six leading ASEAN economies committed to bringing tariffs on most manufactured products, including cars and car parts, to a maximum of 5% by 2002.
We stressed very much the importance of
AFTA to the industry,'' Kania said, calling the automotive industry a ''high-investment, volume-sensitive'' one that requires large, integrated markets to allow companies to enjoy economies of scale, and rationalize and streamline manufacturing operations.
But
AFTA is being derailed by the vested interests of ASEAN members who are dampening the spirit of the agreement and casting a major shadow over the concept of a free-trade area.
Chuck Sopher, director of EPRI's
AFTA, which is based in Washington, D.
