ASEAN abolishes tariffs in 11 sectors

ASEAN abolishes tariffs in 11 sectors

Southeast Asian nations are moving towards a European-style single market. The Association of Southeast Asian Nations (ASEAN) agreed to abolish tariffs in 11 sectors including autos, textiles and electronics on Monday. Brunei, Malaysia, Indonesia, the Philippines, Singapore and Thailand will abolish tariffs by 2007 – and four other nations - Cambodia, Myanmar, Laos and Vietnam by 2012.