Given its large population, diverse demand for goods and services, not too strict import standards, and production complementarities, the Philippines is a high potential market for Vietnamese exports, said the Trade Office of Vietnam in the archipelago nation.
China is striving to complete negotiations on version 3.0 of the China-ASEAN Free Trade Area (FTA) in 2024 amid a "rich agenda" for FTA negotiations in a bid to further advance high-standard opening-up, Chinese vice minister of commerce Wang Shouwen told a press conference on Friday.
The European Union (EU) recently said that reviving the regional trade pact with ASEAN remained a “long-term objective” as the group tried to finish similar negotiations with the individual members of the Southeast Asian bloc.
Post-pandemic ASEAN has emerged as a global FDI hotspot, fueled by resilient supply chains and competition between the US and China. But this boom brings potential conflict, and increased scrutiny of foreign investments is needed to manage national security concerns. Singapore's proposed SIRB offers a model for screening foreign investment in critical sectors. Effectively calibrating policies between investment and security will be crucial for Singapore and ASEAN's economic future.
Cooperation between the Association of Southeast Asian Nations and China, which together account for 26 percent of the global population and more than one-third of global economic growth, has tremendous potential and broad prospects. It is also of great significance for advancing common prosperity and modernization in Asia, and safeguarding regional peace and stability.
Cambodia has been diversifying into the industrial sector from garment manufacturing to non-garment manufacturing, using skilled labour and technology in the production chains.
Braving global headwinds, Cambodia’s economy grew by 5.5 percent in 2023 as against 5.2 percent in 2022 and inflation declined to 2.1 percent compared to 5.4 percent over the same period. The economy is also predicted to grow by 6.4 percent in 2024.
Far East Trade Service Inc Phnom Penh (FETPP), a Taiwanese company operating under TAITRA, is exploring opportunities to expand its investment in the agri-food, industry and automotive sectors with the assistance of the Council for the Development of Cambodia (CDC) for economic mutual interest.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
