Last month, the Ministry of Agriculture and Food Security revealed that Malaysia exported a total of 115,359 tonnes of fresh durians and durian pulp and paste worth 6.37 billion RM to China between 2018 and 2025.
Coordinating Minister for Economic Affairs Airlangga Hartarto said Australia has placed Indonesia on a list of countries deemed ready to begin the accession process for membership in the CPTPP.
GDP growth is set to ease to 1%-3% next year after nearly doubling this year’s estimate to around 4% on strong Q3.
The British government has not entered into any official talks for a possible free trade agreement with ASEAN, as London wishes to use the tariff eliminations provided by the Trans-Pacific accord, CPTPP, when doing business in the region.
Despite a 19-percent United States (US) tariff on Philippine goods, over $1-billion worth of agricultural export products have been granted exemptions, giving a much-needed boost to local farmers.
Indonesia is planning to impose an export tax of between 7.5 percent and 15 percent on gold next year, according to a senior official.
China’s upgraded trade pact with ASEAN promises deeper markets and tech ties, but rising regional dependence, local pushback and ongoing US-China rivalry could test the limits of its benefits, says researcher Genevieve Donnellon-May.
Despite India’s protectionist stance after entering a trade deal with ASEAN countries, imports from the trade partners have grown faster than exports to these nations.