Vietnam has reaffirmed its commitment to continuously supply the Philippines’ rice requirement amid concerns over food security due to the COVID-19 situation, the Department of Agriculture said.
Free trade agreement (FTA) generates both winners and losers, and the formation of the Regional Comprehensive Economic Partnership (RCEP) is no exception. This column argues that tariff reduction under RCEP is likely to reduce ASEAN’s exports as it will erode trade preferences of ASEAN granted by existing FTA partners.
WITH the Covid-19 outbreak, South-east Asia's gross domestic product growth is expected to slow sharply to just 1 per cent in 2020, before rebounding to 4.7 per cent in 2021, according to an Asian Development Bank report on April 3. This is down from 2019's full-year growth rate of 4.4 per cent.
Thailand has issued a variety of tax relief measures covering tax deductions, VAT refunds, and tax filing extensions to counter the economic impact of the COVID-19 outbreak.
The World Bank on Tuesday slashed economic growth forecasts across Asia this year amid the coronavirus pandemic, predicting that Malaysia and Thailand would plunge into recession even in a best-case scenario.
The government has outlined a worst-case scenario where the domestic economy contracts by 0.4 percent as the COVID-19 pandemic arrests swaths of economic activity and poses recessionary risks to Southeast Asia’s largest economy.
The Philippines' economic growth is projected to "significantly decelerate" to three percent this year due to the impact of the COVID-19 pandemic, the World Bank said in a report released on Tuesday.
Indonesia is in a tough spot – waging a public health war against COVID-19 while fighting off recession using limited fiscal resources.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
