Hong Kong is primed to bring “singular and significant value” to the world’s largest free-trade pact once its membership is approved, the city’s leader has said, while vowing to help Southeast Asia countries capitalise on opportunities in the Greater Bay Area.
Laos is set to take a significant step in its economic development by becoming the sixth country to enter a validation agreement with the European Patent Office (EPO). This agreement will allow patents granted by the EPO to be recognized and enforced in Laos, making it easier for European patent holders to extend their protection into the Laotian market. This move is expected to impact not only European businesses but also Laos’s economic landscape.
The country’s economic growth next year is expected to fall short of the government’s target even with continued monetary policy easing, according to the World Bank.
The Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade zone, entered into force in 2022 with the potential to strengthen trade relations among its members. With all 15 member states having completed their domestic ratification processes, RCEP is poised to boost the development of intra-regional supply chains in “Factory Asia,” which now accounts for nearly 60 percent of world trade, making it the second most integrated economic region after Europe.
Singaporeans spent nearly US$1 billion in payment with stablecoins in the second quarter this year, a new quarterly record, showing high adoption of cryptocurrencies, a report shows.
Việt Nam and the US have witnessed thriving trade and economic co-operation after one year since the two countries upgraded the bilateral relations to a comprehensive strategic partnership for peace, cooperation and sustainable development, according to US business insiders.
In Southeast Asia, a flood of inexpensive Chinese imports is overwhelming local industries, causing widespread devastation and unemployment.
Southeast Asian countries such as Vietnam and Philippines are expected to boost coal trade and consumption this decade, industry officials say, even as demand from top consumer China approaches its peak.
<p>Time: 2024 By: Ministry of Industry and Trade</p>
