The Philippines is going all in with the United States and bracing itself against lost Chinese largesse. President Ferdinand Marcos Jnr will fly to Washington next month to attend the US-Japan-Philippines trilateral leaders’ summit. It will be his fourth visit to the US since taking office as president less than two years ago.
Although 2023 was a difficult year for the global economy, ASEAN still maintained the fastest-growing economic region in the world with a GDP growth rate of 4.2%, according to the Vietnam E-Commerce and Digital Economy Agency (Ministry of Industry and Trade). ASEAN is also a diverse import market of agricultural, forestry and fishery products from many countries worldwide. However, Vietnam has not yet made full use of its advantages in exporting agricultural products to ASEAN countries.
Hailed as a major milestone, agreements resolve longstanding sensitive issues.
The China National Textile and Apparel Council, the ASEAN Federation of Textile Industries (AFTEX), the Textile Council of Hong Kong (China), and the Hong Kong General Chamber of Textiles (HKGCOT) signed their first memorandum of understanding on cooperation at a ceremony in Hong Kong on March 21.
"For a long time, we have wanted to form a strategic economic partnership forum with Vietnam," Deputy Minister for Economic Affairs Edi Prio Pambudi said here on Sunday.
Former Prime Minister Hun Sen recently called for strengthening the relations between Cambodia and Thailand in areas such as trade, labour and tourism by elevating the current Strategic Partnership to a notch higher to a Comprehensive Strategic Partnership.
The economic lag in Cambodia is linked to two factors: One, slowdown in Chinese, European, US and UK markets caused by rising inflation, interest rates and increased cost of living; two, post-Covid-19 pandemic, international conflicts and political instability. Yet, there appears to be a ray of hope at the end of the gloomy tunnel as Prime Minister Hun Manet, fully realizing that over-dependence on China will only delay Cambodia’s progress, has undertaken executing plan B like looking for greener pastures – Japan, Thailand, France and Australia – demonstrating a proactive government policy in terms of the attraction of diversified investment and industry
China always opens its door to products from Thailand and the two partners' bilateral trade will bring mutual benefits to both the development of the two nations and the lives of the people, said the Chinese ambassador to Thailand.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
