The leaders of South Korea and Indonesia discussed ways to strengthen their cooperation in various areas Monday, including infrastructure projects and the economy.
Cambodia and the Republic of Korea have reached an agreement to avoid double taxation on income and prevent tax evasion, while industry insiders said the agreement will attract more Korean investors to Cambodia.
The Philippines and South Korea have agreed to conclude the two countries’ free trade agreement by the first half of 2020.
South Korea and the 10 member countries of the Association of Southeast Asian Nations (ASEAN) clamored for free trade and anti-protectionism during their special summit that ran for two days through Tuesday in the South Korean southern port city of Busan.
India’s sudden withdrawal from the Regional Comprehensive Economic Partnership talks has hit negotiations involving the other 15 countries of the treaty, which is expected to be finalized by the end of this year.
ASEAN was the fifth-largest economy in the world with a gross domestic product (GDP) of around US$3 trillion last year, according to the latest ASEAN report, a significant increase from the seventh place it had five years ago.
Myanmar’s economy grows between six and seven per cent annually, Myanmar is also amongst ASEAN’s fastest-growing economies, said State Counsellor Daw Aung San Suu Kyi.
THAILAND is the top performer in South-east Asia with the largest total funds raised through initial public offerings (IPOs) in 2019, accounting for 39 per cent. Singapore contributed 33 per cent to the total funds raised, followed by Indonesia.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
