The Association of Southeast Asian Nations (ASEAN) now accounts for nearly 8% of global exports (4% in 1990), on par with the United States, according to France's central bank's latest bulletin.
Indonesian President Joko Widodo’s visit to Australia this week, likely his last while in office, comes at a time when Indonesia and Australia confront their biggest strategic choices for decades.
Japan and the Association of Southeast Asian Nations will establish a research center that promotes the free flow of data across borders, aiming to counter China's restrictions by giving businesses the ability to analyze markets in a wide area.
Vietnam remained the biggest rice provider of the Philippines in the first five months of this year with turnover of US$772.4 million, surging 31.1% year-on-year.
As an intergovernmental organization formed to promote regional cooperation, ASEAN took on new challenges when it decided to move toward a European-style common market by 2025.
Micro, small and medium-sized enterprises (MSMES) play a significant role in transforming ASEAN towards a circular economy and prepare the region for sustainable future, Secretary-General of ASEAN Kao Kim Hourn said in an article published on June 26.
The Republic’s exports have shown no signs of picking up yet, as non-oil domestic exports (Nodx) fell 14.7 per cent in May, from the same month a year ago, worsening from a 9.8 per cent contraction in April and an 8.2 per cent dip in March.
The IMF projects a downtick in global economic growth - a mere 2.8 percent for 2023. The Asia-Pacific region, once hailed as the economic dynamo that drove the recovery post-2008, is faring no better. Its growth rate is languishing at around 4 percent for both 2023 and 2022, a significant decrease from 6.5 percent in 2021. The path to global economic recovery, it appears, is far from straightforward.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
