With weaker global growth and a downturn in the electronics trade cycle, Asean markets must rely on domestic demand to drive growth in 2019 -- though the effectiveness of this driver will vary across countries, said HSBC economists in a note on Feb 13.
This year, we will celebrate the 30th anniversary of ASEAN-Korea relations as well as the 70th anniversary of the Philippines-Korea relations.
The ASEAN – Hong Kong Free Trade Agreement (FTA) is now in its final stage and is hoped to take effect within 2019, according to Xinhua news agency. Xinhua quoted Law Kin-wai, director general of the Hong Kong Economic and Trade Office in Jakarta, Indonesia, as saying on February 12 that member states of the Association of Southeast Asian Nations (ASEAN) are proceeding with necessary domestic ratifications and procedures that would pave the way for the enforcement of the FTA.
Thai media on February 9 quoted Deputy Prime Minister Somkid Jatusripitak as saying that he had ordered the Commerce Ministry to submit a request to become a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Manufacturers across Asean entered the new year with subdued activity, with only the Philippines and Myanmar seeing increased Year-on-Year (YoY) output. Both, however, saw the majority of their annual increase eroded in the first month of 2019, with only Malaysia seeing month-on-month (MoM) growth.
The Philippine manufacturing sector outperformed those in ASEAN despite registering a slower expansion in January, according to the latest Nikkei ASEAN Manufacturing Purchasing Managers’ Index (PMI).
Concluding the Regional Comprehensive Economic Partnership (RCEP) will be the biggest challenge during Thailand’s Asean chairmanship this year, as failing to do so will gravely damage the credibility of the Southeast Asian grouping, international relations experts cautioned on Tuesday.
The United Kingdom’s Minister of State for Asia last week announced the launch of two programmes that will deliver a total of $43 million in funding to support low carbon transitions and economic reform in the Asean region.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
