Malaysia's Ministry of International Trade and Industry (MITI) on January 21 announced that the country submitted its Instrument of Ratification (IOR) to the ASEAN Secretariat on January 17, becoming ready to be the 12th member state to ratify the Regional Comprehensive Economic Partnership Agreement (RCEP).
The Regional Comprehensive Economic Partnership agreement, the world's largest trade deal, will create new economic and trade development opportunities among participating countries, which account for about 30 percent of global GDP, experts said.
Russia sees good prospect in further deepening the win-win partnership with all members of the Association Southeast Asian Nations (ASEAN), including Vietnam, Russian Foreign Minister Sergei Lavrov said in a written reply to queries by Vietnam News Agency's correspondents on the country's diplomatic orientations in 2022.
Thai Minister of Finance Arkhom Termpittayapaisith has forecast the country’s economy would grow 3.5-4.5 percent this year driven by fiscal policy, exports and investment, despite an outbreak of the Omicron coronavirus variant remaining a challenge.
The COVID-19 pandemic caused global investment activities to fall – due to economic uncertainties, lockdowns, supply chain disruptions and postponement of investment by multinational enterprises.
Indonesia will give priority to the early ratification of a number of bilateral trade agreements, particularly a comprehensive economic partnership agreement (CEPA) with the United Arab Emirates (UAE), according to the country's Trade Minister Muhammad Lutfi.
Tourism ministers of ASEAN member nations on January 19 agreed to reopen ASEAN tourism to revive this industry amid the COVID-19 pandemic, according to a statement.
Minister of Commerce Pan Sorasak expressed his commitment to mobilize all efforts to improve trade within ASEAN.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
