Tourism ministers of the 10 member states of the Association of Southeast Asian Nations (ASEAN) agreed on Wednesday to deepen tourism cooperation so as to mitigate the effects of Covid-19 on the sector.
The Regional Comprehensive Economic Partnership (RCEP) remains on track to be signed by the end of 2020, said Singapore’s Trade and Industry Minister Chan Chun Sing on May 3.
Thailand loses duty free access for 42.2 billion baht in exports to the US market from today, 6 months after Washington warned it would pull back on trade privileges unless the kingdom committed to labour rights reforms. Once trade preferences for Thai products are removed they are subject to tax of between 4% and 5%, making them more expensive in the lucrative US market.
The European Union has announced that it is mobilizing €350 million (US$ 378 million) to assist Southeast Asian countries in the battle against COVID-19.
For many economies, 5G innovation promises an opportunity to scale the economic ladder in a technological arena that will undergird the connectivity-based and data-driven Fourth Industrial Revolution (4IR). But for major powers, 5G innovation is an emerging battlefield for technological, economic and military domination. For all its economic promise, this next-generation technology has the potential to be a nightmare in the making for ASEAN — an organisation that lists choosing sides between major powers as one of its most prominent concerns.
The Covid-19 pandemic is putting severe growth pressure on the CLMV economies -- Cambodia, Laos, Myanmar, and Vietnam -- and may cause the region's growth to slow a historical low, according to a Maybank Kim Eng report on Apr 28.
Thailand's cabinet will not consider on Tuesday whether Thailand will seek membership of an Asia-Pacific trade agreement, which could boost its economy hit by the coronavirus pandemic, due to widespread opposition.
The Asia-Pacific Economic Cooperation (APEC) region is expected to post a 2.7 percent economic decline in 2020 due to the impact of COVID-19.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
