On January 1, 2022, the Regional Comprehensive Economic Partnership (RCEP) will take effect and is envisioned to serve as a key engine of trade and investment and, and promote a more inclusive economic recovery for the entire region.
Vietnam is the biggest ASEAN foreign direct investor in Cambodia with 188 active projects and a total registered capital of $2.85 billion.
2021 marks 30 years of dialogue relations between Asean and China. Since 1991, bilateral trade between Asean and China has been increasing steadily. Despite the impact of the pandemic, Asean surpassed the European Union in 2020 to become China’s largest trading partner for the first time. Before that, China was already Asean's top trading partner for eight consecutive years.
The Philippine Exporters Confederation Inc. (Philexport) is calling for the immediate ratification of the Regional Comprehensive Economic Partnership (RCEP), noting that participation in the mega trade deal will hasten the recovery of the country's economy.
The Thai government is targeting economic growth of up to 4.2 percent under its medium-term fiscal policy framework for 2023-26, and plans to maintain a budget deficit to help the fragile economy.
Next year marks the 30th anniversary of bilateral relations between Asean and India, and has been declared "Asean-India Friendship Year".
The Thai sugar market is eyeing a return to strength in 2022 after two consecutive years of drought, but will likely face logistical challenges in securing freight to export its surplus supply to buyers in the region as well as competition from cargoes from India and Brazil.
Cambodia is basing hopes for a post-pandemic economic recovery on free trade agreements with China and South Korea, and membership in the Regional Comprehensive Economic Partnership.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
