Based on advance estimates for the third quarter of 2020, the Singapore economy expanded by 7.9 percent on a quarter-on-quarter seasonally-adjusted basis, rebounding from the 13.2 percent contraction in the preceding quarter.
Indonesia and Japan have launched an e-commerce website in service of storing trade data and better supporting the two countries’ investors.
The International Monetary Fund (IMF) has predicted that Indonesia’s GDP growth may contract by 1.5 percent in 2020 rather than 0.3 percent as it initially forecasted in June this year due to impacts of COVID-19 pandemic.
The COVID-19 pandemic continues to cast a long, dark, and uncertain shadow over the outlook for global growth. Deeply plugged into the global value chain, the ASEAN+3 region, comprising the 10 members of the Association of Southeast Asian Nations plus China, Japan, and Korea, has been severely affected. Currently, the region is projected to record negative growth in 2020, a large fall compared to the average growth of around 5% over the past few years.
A recent survey conducted by Jobstreet Indonesia showed that 35 percent of workers in the country had been laid off due to the COVID-19 pandemic, while 19 percent had been forced to take unpaid leave.
Chinese State Councilor and Foreign Minister Wang Yi and Cambodian Deputy Prime Minister and Foreign Minister Prak Sokhonn agreed on Monday night to further enhance cooperation between the two countries.
The Regional Comprehensive Economic Partnership (RCEP) is set to be signed on November 14 via hologram, according to Director General of the Trade Negotiations Department Auramon Supthaweethum.
Cambodia’s poverty rate could nearly double to 17.6 percent and unemployment could rise to 4.8 percent, according to a policy brief that assesses the socio-economic impact of COVID-19 in Cambodia released by the UN Development Programme (UNDP) on October 8.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
