The Asian Film Awards Academy (AFAA) is a non-profit organization founded by the Busan, Hong Kong, and Tokyo International Film Festivals. Their aim is to celebrate excellence in Asian cinema and promote and recognize Asian films and talents. AFAA accomplishes this through the annual Asian Film Awards, as well as various year-round initiatives.

The Asian Film Awards, which started in 2007, includes categories such as Best Film, Best Director, Best Actor, and Best Actress. The winners and nominees of past awards make up the members of AFAA, who not only vote for the Asian Film Awards but also participate in numerous AFAA activities involving film professionals and audiences from Asia and around the world. AFAA organizes year-round events and programs with the goal of promoting Asian films to a wider audience, expanding the film market within Asia, and fostering connections among Hong Kong and international film professionals.

These initiatives include the Masterclass Series, where filmmakers share their insights, the Journey to the Fest program, which allows students to visit international film festivals, the Asian Cinerama film roadshows, and the Young Film Professionals Programme, which provides overseas training and work placements. AFAA's success is due in part to the support it receives from Create Hong Kong and the Film Development Fund of the HKSAR Government. It has also established partnerships with industry institutions such as The British Academy of Film and Television Arts and film festivals like Barcelona, Edinburgh, and Taipei Golden Horse.

Overall, the establishment of AFAA showcases the growing global significance and creative prowess of the Asian film industry. With the support of film festivals and cultural organizations, AFAA works tirelessly to promote, educate, inform, and develop knowledge, skills, and interest in Asian cinema among industry professionals, students, and audiences in Asia and beyond