In 2015, ASEAN and China signed an upgraded protocol to improve the original Framework Agreement for the ASEAN–China Free Trade Area (ACFTA). The upgraded protocol entered into force in July 2016 and implementation will start from August 2019.
Two-way trade between Cambodia and Thailand rose steadily during the first half of the year, according to a report from the Thai Business Council of Cambodia (TBCC).
The European Union says it has imposed tariffs on imports of subsidised biodiesel from Indonesia to level the playing field with European producers. It now faces retaliation by the Indonesian government on EU farming exports.
Singapore could be heading for a recession after it reported a big drop in economic activity in the second quarter of the year.
Myanmar recently signed a trade deal with China to increase rice exports across its northern border fourfold to 400,000 tonnes per year. But under the new trade agreement, Chinese traders will pay for a quarter of the sum with bartered goods.
The historical relationship between China and ASEAN is the basis of China's "Maritime Silk Road" initiative. Today, the strategic partnership between China and ASEAN is becoming a model for a new type of international relations.
The escalating trade war between the US and China may help drive a conclusion to the negotiation of the Regional Comprehensive Economic Partnership (RCEP) free trade agreement to ensure smooth operation of the international supply chains.
South Korea and the Philippines initiate their third round of FTA negotiations in Busan City on Aug. 12.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
