Bhutan and Thailand launched Free Trade of Agreement (FTA) negotiations last week in Thimphu.
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Malaysia has rapidly enhanced its business competitiveness through strategic economic reforms and robust policy initiatives, positioning itself as an attractive destination for global investors.
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In its 2016 ruling, the Permanent Court of Arbitration in the Hague found China's claims to the South China Sea, based on its 'nine-dash' line, had no legal standing under the UNCLOS. But the Philippines remains torn between negotiating with China individually and seeking support from its ally the United States, which risks exacerbating Chinese fears of containment via proxy. ASEAN unity, expressed through effective cooperation and regional institutions, could provide a solution by helping the smaller nations of Asia assert their collective interests against larger powers, as well as serving as a platform for the defence of economic openness through mechanisms such as RCEP.
Cambodia and South Korea are poised to strengthen their economic partnership with a plan to establish special economic zones dedicated to Korean companies in Cambodia as the two countries agreed to leverage the Regional Comprehensive Economic Partnership (RCEP) agreement and other free trade agreements for the benefit of all.
The Management Association of the Philippines (MAP) has been pushing consistently for vital policy reforms to improve the global competitiveness of the Philippines and enable a sustainable business environment for both local and foreign investors.
The Regional Comprehensive Economic Partnership — a free trade agreement that has created the world's largest trading group — is sending a strong signal in favor of open markets, fair competition and rules-based trade at a time when protectionist tendencies and trade tensions are posing challenges to stable supply chains and global economic recovery, officials and experts said on Sunday.