The Philippines economy has continued to show rapid expansion in early 2022, with first quarter GDP growth up 8.3% year-on-year (y/y). This followed a GDP growth rebound of 5.6% in 2021, despite the negative impact of the COVID-19 Delta wave that hit the nation in the second half of 2021. However, the Philippines is facing external headwinds from rising world inflation, notably from higher world oil prices, as well as moderating global economic growth.
The basic concept of Regional Comprehensive Economic Partnership (RCEP), a free trade agreement among 15 member states, is integration, said Sok Chenda Sophea, Minister attached to the Prime Minister and Secretary-General of the Council for the Development of Cambodia (CDC).
Singapore and Malaysia have agreed to deepen cooperation in the digital economy and green economy, said the Ministry of Trade and Industry (MTI) in a news release on Thursday (Jun 30).
The economic dynamism of ASEAN is well-known and in recent years the region has seen the emergence of some of the fastest growing digital economies in the world. The COVID-19 pandemic accelerated this trend, with 60 million new digital consumers since the pandemic started and the internet economy on track to account for US$360 billion by 2025.
Southeast Asian economic integration is stagnating, and the ASEAN Economic Community is ceding relevance to better frameworks for regional cooperation, Wendi Wiliyanto writes.
As China battled a wave of Covid-19 flare-ups over the past few months with strict control measures, the widespread disruption of business operations fueled concerns over an accelerating exodus of manufacturing.
Malaysia and Australia reaffirmed their commitment to enhance cooperation in multifaceted areas of mutual interest, driven by Comprehensive Strategic Partnership (CSP) that both countries will build on.
Prime Minister Hun Sen expressed optimism that Cambodia will definitely achieve its vision of a high-middle-income country by 2030 and attributed it to the country’s peace and economic growth, particularly the socio-economic resumption after the pandemic.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
