The COVID-19 global pandemic and the resulting lockdowns to contain the disease, including in the Philippines, so far inflicted a “brutal blow” on the growing “sharing economy,” but benefitted the industry of e-commerce in Asean, Malaysian financial giant Maybank said.
After the Covid-19 earthquake and a historical contraction, China is rebounding, whereas advanced economies face a depression-like plunge. The consequent tsunami is about to hit Southeast Asia.
Thailand is likely to welcome only 16 million foreign tourists in 2020, much lower than the pre-COVID-19 pandemic target of 40 million, according to the Tourism Authority of Thailand (TAT).
Regional Comprehensive Economic Partnership (RCEP) dialogue partners are advancing the review of legal texts, with an expectation of the process finishing in July so the pact can be signed at the ASEAN Summit in Vietnam later this year as scheduled.
Japanese Prime Minister Shinzo Abe recently declared a state of emergency for the coronavirus pandemic and unveiled a massive stimulus package to help the economy overcome the crisis.
The Asean Business Advisory Council (Asean-BAC), in pledging to work closely with Asean nations in their fight to contain Covid-19, has called on their leaders to take urgent measures to ensure there are uninterrupted production and supply chains of essential food and beverage.
At Thai Khu Fah Building, Government House, Prime Minister and Defense Minister Gen. Prayut Chan-o-cha attended the ASEAN+3 Special Summit via a video conferencing to discuss COVID-19 situation. Prof. Narumon Pinyosinwat, Government Spokesperson, disclosed gist of the meeting
It expects Singapore economy to shrink 3.5% this year, with a recovery to 3% growth in 2021
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
