In the second part of our series covering Singapore’s 2022 budget, we look at the incentives impacting businesses.
Cambodia ranked third in both real income gains and export growth among Regional Comprehensive Economic Partnership (RCEP) members, according to the World Bank (WB).
The Regional Comprehensive Economic Partnership (RCEP), the world’s largest free-trade agreement, took effect on 1 January 2022. The RCEP brings together 10 ASEAN countries, Brunei Darussalam, Cambodia, Indonesia, the Lao People’s Democratic Republic, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, and five other regional economies, Australia, the People’s Republic of China, Japan, New Zealand and the Republic of Korea. It includes close to three billion people and accounts for about 30% of global GDP.
Trade between China and Japan will get a huge boost from the Regional Comprehensive Economic Partnership (RCEP) thanks to favorable terms in areas including tariffs, according to the Japan External Trade Organization (JETRO) Beijing.
Despite negative effects from the health crisis, leaders from Vietnam and Singapore have explored further solutions to beef up their strategic partnership during the state visit from the former, with a focus on trade and investment ties strongly increasing thanks to a connectivity initiative.
ASEAN and Chile have held the third ASEAN-Chile Development Partnership Committee (AC-DPC) Meeting via videoconference.
ASEAN Secretary-General Dato Lim Jock Hoi and UK Secretary of State for International Trade Anne-Marie Trevelyan have discussed overall economic ties between the two sides.
China will adopt the tariff rates it has pledged under the Regional Comprehensive Economic Partnership (RCEP) agreement on part of imports from Malaysia from March 18, the Customs Tariff Commission of the State Council has said.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
