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2.1. The Regional Arrangement on Service Liberalisation

and MRAs

By recognising an increasing significance of trade in
services, ASEAN countries officially launched their effort to

work towards free flow of trade in services within the region
through the signing of AFAS in 1995 by ASEAN Economic

Ministers during the 5th ASEAN Summit in Bangkok, Thailand. 22
The objectives of AFAS cover three elements. The first target
is to enhance cooperation in services among members in

order to improve the efficiency and competitiveness, diversify
production capacity and supply and distribution of services of

their service suppliers within and outside ASEAN. The second
objective is to eliminate substantially restrictions to trade in
services among members. The third goal is to liberalise trade

in services by expanding the depth and scope of liberalisation
beyond those undertaken by members under the GATS with

23
the aim of realising a free trade area in services.

22 See ASEAN Secretariat, ASEAN Economic Ministers(2016), available at http://
asean.org/asean-economic-community/asean-economic-ministers-aem/asean-
economic-ministers-aem/.
23 See ASEAN Secretariat, ASEAN Framework Agreement on Services, ASEAN
Secretariat(2016), available at http://investasean.asean.org/index.php/page/
view/asean-free-trade-area-agreements/view/757/newsid/870/asean-framework-
agreement-on-services.html.

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