Thailand's commerce minister on Monday said his country would have trade talks with the United States and expressed confidence both sides could agree on good terms on tariffs, possibly as low as 10%.
Vietnam’s partnership with Brics aligns the South-east Asian country with peers Indonesia, Malaysia and Thailand in efforts to amplify the voice of developing nations
According to the earlier US tariff announcement, Cambodia encounters the highest rates of 49%, followed by Laos (48%), Vietnam (46%), Myanmar (44%), Thailand (36%), and Indonesia (32%).
In 2023, trade turnover between Argentina and ASEAN exceeded 9 billion USD, with Argentina recording a surplus of 945 million USD.
Malaysia has expressed its readiness to negotiate in four key areas: addressing the US’s reported 24.8 billion USD trade deficit with Malaysia, removing non-tariff barriers, strengthening protections for technology and national security, and exploring the possibility of a bilateral trade agreement.
Despite nearly two decades of lofty declarations and frameworks such as the Asean Economic Community, intra-Asean trade remains sluggish as it hovers below the 25 per cent mark, a figure economists attribute to persistent non-tariff barriers (NTBs), outdated infrastructure, and entrenched bureaucratic hurdles.
The upcoming ‘upgrade’ to the ASEAN-China Free Trade Area (ACFTA) 3.0 – set to be signed in October 2025 – is expected to be a ‘game changer’ for businesses wishing to enter the Chinese market as the new pact will focus on the digital, green economies and supply chain cooperation.
By translating their Comprehensive Strategic Partnership, established last year, into concrete initiatives, Vietnam and Malaysia could drive regional growth, reinforce ASEAN centrality, and advance shared peace and prosperity.
<p>Time: 2024 By: Ministry of Industry and Trade</p>
