Indonesia’s gross domestic product (GDP) growth could slow to 4.9 percent in 2020 and 4.6 percent in 2022 amid intensifying risks such as the escalating trade tension between China and the US, according to the World Bank.
Southeast Asian countries are intensifying their efforts to attract companies planning to move production bases outside China, as the United States and China have become entrenched in tit-for-tat sanctions and retaliatory tariffs.
The 10-member Association of Southeast Asian Nations (ASEAN) is likely to become China's largest trading partner surpassing the EU via closer ties under the framework of the Belt and Road Initiative (BRI), experts said on Monday.
Experts attending a think tank forum called on China and ASEAN to make full use of existing cross-regional, regional and subregional initiatives to enhance the development of both sides.
The Department of Trade Negotiations (DTN) has disclosed that Thailand is the world’s largest rubber exporter, with China as the biggest market thanks to its free trade agreements with many countries.
In August 2019, the amendments to the ASEAN-China FTA came into force, simplifying the rules for trade of goods, services, and investments in the ASEAN-China economic zone that is home to over 1.8 billion people.
Joining the RCEP could be counter-productive given the existing inefficiencies of Indian producers. These need to be fixed first
Database will enable ASEAN countries to identify the extent of application of non-tariff measures and make them business friendly.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
