ASEAN is becoming an increasingly important international economic player, having grown its trade significantly as it integrated into the global economy. Australia is seeking to enhance its economic cooperation with ASEAN as part of a commercial effort to increase trade and investment, but must also seek to create a partnership to defend multilateralism and the rules-based trading regime. ASEAN and Australia can work to further regional cooperation by leading an initiative to create a sustainable economic order underpinned by a Single Green Market.
While ASEAN's status as an invited guest in the G20 affords the bloc some influence, permanent membership would give it crucial consensus-building power. ASEAN is important both economically and strategically, on par with many G20 nations, though its struggles with internal cohesion may raise doubts about its ability to be a coherent voice in global governance. But by uniting behind its goal, relying on support from existing permanent members and emphasising its economic credentials and commitment to global cooperation, G20 membership could be in reach for ASEAN.
Cambodian Minister of Commerce Cham Nimul said on Friday that the country’s trade with Regional Comprehensive Economic Partnership (RCEP) countries hit $31.36 billion during the January-November period of 2024.
Growth in bilateral trade between the Philippines and Sweden is expected to continue in the coming years, with optimism stemming from the country’s growing export performance, as well as the entry of more firms from the highly developed country.
Thailand and South Korea are prepared to negotiate a free trade agreement (FTA) to boost bilateral trade, services, and investment, Commerce Minister Pichai Naripthaphan said on Saturday.
The General Department of Customs and Excise of Cambodia and Vietnamese Customs Administration Monday agreed to further strengthen the bilateral customs cooperation on managing and facilitating cross-border trade activities and transit goods.
Russian ambassador outlines opportunities for closer collaboration and trade in several sectors including energy
Malaysia’s desire to join BRICS is not a recent development. BRICS — an intergovernmental economic organisation comprising Brazil, Russia, India, China, South Africa, Iran, Egypt, the United Arab Emirates and Ethiopia — has as attempted to pose as a non-Western, Global South economic alternative to the Group of Seven. Malaysia is eager to join as it shifts its international economic approach from hedging to bandwagoning by aligning itself with the non-Western economic grouping.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
