CAMBODIA, Myanmar, and Vietnam are among the Asian countries poised to gain most from shifts in apparel manufacturing, according to a Fitch Solutions July 13 report.
Singapore's economy shrank more than 40 percent in the second quarter as the coronavirus plunged the Southeast Asian financial hub into recession for the first time in more than a decade, official data showed Tuesday.
S. Korea’s FDI in China has steadily decreased while increasing in Southeast Asia
ASEAN member state Indonesia, the fourth most populous nation in the world – confirmed its first COVID-19 cases in early March. Since then, the number of infections in the archipelago have soared.
At the start of 2020, the Regional Comprehensive Economic Partnership (RCEP) – potentially the world’s largest free trade deal – seemed on track to be signed by the end of the year. However, the coronavirus pandemic has slowed that process, raising some questions about when the agreement will be formalised.
In the Southeast Asian region, the Philippines is one of the countries that has been affected the most by the COVID-19 pandemic. The country is estimated to lose between three percent and four percent of its gross domestic product (GDP) this year.
Indonesia’s retail sales index shrank by 20.6 percent in May, the biggest reduction since 2008, mostly due to plunging clothes sales and cultural and recreational spending, according to a survey by the Bank Indonesia (BI).
Vietnam is serving as an important bridge between the Association of Southeast Asian Nations (ASEAN) and the US, said Director of Stimson's Southeast Asia programme Brian Eyler.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
