Singapore’s economy grew 4.1 per cent year on year in the third quarter of 2024, much faster than the 2.9 per cent growth in the previous quarter, according to official advance estimates.
The ASEAN-China Free Trade Area (ACFTA) was the regional bloc’s first one with an external partner, as well as China’s first, Prime Minister Lawrence Wong noted during the 27th ASEAN-China Summit in Vientiane.
The Philippines is stepping up efforts to boost its coconut industry in the European Union (EU) market, promoting investment opportunities in integrated coconut processing. The Department of Trade and Industry (DTI), in collaboration with the Department of Agriculture (DA) and the Philippine Coconut Authority (PCA), led a trade mission to the Netherlands and Belgium from Sept. 9 to 13, 2024.
Asean deepened its relationships with several key partners on the second day of its annual gathering, in what Singapore Prime Minister Lawrence Wong said was a signal of the grouping’s commitment to free trade and staying open at a time of growing protectionism.
Australia is strengthening ties with the Philippines as a trade and investment partner by seeking to expand mining investment opportunities and also grow the $8.7 billion in two-way investment generated in 2023.
Indonesia has become India’s largest trading partner in the ASEAN region. Bilateral trade between the two countries increased from US$26.04 billion in 2022 to US$38.84 billion in 2023, a significant 48 percent growth. The two nations aim to reach US$50 billion in trade by 2025.
India and Malaysia have cultivated a dynamic and growing trade relationship, driven by strategic economic partnerships and mutual interests.
Jakarta is proposing 200 percent tariffs on Chinese goods, citing the United States’ policies as an inspiration.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
