The asean free trade area afta is a trade bloc agreement by the association of southeast asian nations supporting local trade and manufacturing in all asean countries and facilitating economic integration with regional and international allies it stands as one of the largest and most important free trade areas fta in the world and together with its network of dialogue partners drove . The south asian free trade area safta is an agreement reached on january 6 2004 at the 12th saarc summit in islamabad pakistanit created a free trade area of 16 billion people in afghanistan bangladesh bhutan india maldives nepal pakistan and sri lanka as of 2018 the combined population is 208 billion people about 27 of the worlds population of 7698651000 . The asean free trade area afta has now been virtually established asean member countries have made significant progress in the lowering of intra regional tariffs through the common effective preferential tariff cept scheme for afta more than 99 percent of the products in the cept inclusion . Asia pacific economic cooperation apec is an inter governmental forum for 21 pacific rim member economies that promotes free trade throughout the asia pacific region inspired from the success of association of southeast asian nations aseans series of post ministerial conferences launched in the mid 1980s the apec was established in 1989 in response to the growing interdependence of . The free trade area of the asia pacific or ftaap is a proposal to create a free trade agreement among the 21 apec economies the us government now publicly supports ftaap after opposing it earlier
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