Thailand's Ministry of Commerce said on Tuesday that it will begin to train farmers and entrepreneurs on how to tap into the benefits of the Regional Comprehensive Economic Partnership (RCEP) this year.
Becoming a member of the Association of Southeast Asian Nations (ASEAN) has brought about great benefits to Vietnam in various fields, according to Deputy Foreign Minister Nguyen Quoc Dung.
To date, ASEAN has over 200,000 coronavirus infections across all 10 member states, with more than 6,000 fatalities as a result of the deadly disease. Although other regions such as Europe and the Americas have recorded more COVID-19 cases compared to Southeast Asia – the pandemic has still managed to ravage livelihoods and local industries in the latter region.
Durian sales on e-commerce platforms are one of the successful stories under the booming digital economy cooperation between China and the Association of Southeast Asian Nations (Asean). In many Asean countries in the past months, the digital economy became a strong growth engine during the COVID-19 pandemic and the trend is expected to continue in post-pandemic recovery.
Vietnam is among the most price sensitive markets in Southeast Asia with over 80 percent of shoppers noticing when a product’s price changes.
Amid the outbreak of the COVID-19 pandemic, Vietnam, as ASEAN Chair, has managed to formulate a regional comprehensive economic recovery plan, the New Straits Times of Malaysia reported.
According to the World Bank’s latest economic update on Cambodia, the country’s economy this year will contract by -1 and -2.9 percent. This is a worrying sign given the kingdom’s reliance on tourism, manufacturing exports, agriculture and construction. In realising this fact, Australia has stepped up its efforts to help reduce the impact on Cambodian citizens, while also responding to its own economic issues.
Vietnam’s economy is expected to gain enormously from the FTA with the EU. However, the country will face major criticism unless it adopts labor and human rights reforms.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
