 In 1992, the Common Effective Preferential Tariff (CEPT) scheme was adopted as a schedule for phasing out tariffs to increase the "region's competitive advantage as a production base geared for the world market".This law would act as the framework for the ASEAN Free Trade Area (AFTA), which is an agreement by member states concerning local manufacturing in ASEAN.It was signed on 28 January 1992 in Singapore.