The Asian Free Trade Agreement, sometimes known as AFTA, is an agreement between the Grand Yarphese Republic and the East Asian Federation to lift almost all quotas, tariffs, and protectionism in trade with each other. It is the trade bloc with the fourth-highest GDP (PPP) and second-highest GDP per capita (PPP). It was created under the Treaty of Singapore on 11 January 2003, and its two countries have grown immensely since then, with extremely developed economies that rival those of powers in Europe and North America. In 2005 a constitution was reached, governing trade among Yarphei and the EAF.