The Asia-Pacific Economic Cooperation (APEC) ministers Responsible for Trade acknowledged the huge challenges posed on account of the COVID-19 pandemic and issued a statement on it.
It is unclear what the tourism industry would look like after COVID-19 : travellers will re-venture cautiously with the concept of social distancing in mind.
Indonesia's economy grew at its weakest pace since 2001 in the first quarter, as the coronavirus pandemic halted business activity in Southeast Asia's largest economy and fuelled expectations of a looming recession.
The Philippines' total merchandise trade in goods decreased 25.7 per cent in March 2020, amounting to US$11.44 billion from the $15.40 billionexternal trade in March 2019, the Philippine Statistics Authority (PSA) said on Wednesday (May 6).
THE Japanese government will launch a subsidy programme to encourage domestic manufacturers to transfer their overseas production bases to Asean countries.
The Philippines’ Bureau of Customs (BOC) is rolling out the electronic tracking of containerised cargo (E-TRACC) system in various ports nationwide next month as part of efforts to automate operations and processes towards enhanced trade facilitation and strengthened border protection.
The initial instinctive reaction to the COVID-19 crisis by most countries was to look inwards and act alone. As a result, borders have closed, supply chains have been disrupted, and regional economic activity has fallen.
Japan will launch a subsidy programme to encourage domestic manufacturers to transfer their overseas production bases to Southeast Asia, as the coronavirus pandemic has greatly disrupted their supply chains heavily dependent on China.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
