2023 will be a tough year for ASEAN as the bloc may face many challenges in the time to come.
The Philippines has recently allowed full foreign ownership of renewable energy projects.
Major ASEAN economies should be able to survive volatile market swings in 2023 following similar turmoil last year thanks to the region's strong fundamentals, according to Singapore-based United Overseas Bank (UOB).
Observers say that member nations of regional grouping Asean should be adopting the Asean Taxonomy. Interoperability is key if countries were to launch their own taxonomies.
He said the interest is in sectors including electronics, healthcare, waste management, construction, and asset.
The trade ties between Indonesia, which became the latest member to join the RCEP, and Cambodia are expected to go up, but the textile sector in both countries is unlikely to benefit from the agreement.
With lower tariffs, growing markets, member countries see long-lasting mutual benefits
Cambodia exported products worth 22.48 billion U.S. dollars in 2022, up about 16.4 percent from 19.3 billion dollars a year earlier.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
