THE trade conflict between the United States and China may be benefiting the Philippines in the short run, but the country, as with fellow Southeast Asian countries, is bound to take a stronger hit from an overall slowdown in export demand if the tariff war is protracted.
Indonesia’s economy is expected to maintain a healthy growth rate in 2019 and 2020 on the back of continued strong domestic consumption, according to the Asian Development Bank (ADB).
Deputy Defence Minister Nguyen Chi Vinh and Deputy Foreign Minister Nguyen Quoc Dung co-chaired a working session in Hanoi on September 26 to review preparations for ASEAN Year 2020 and Vietnam’s assumption of a non-permanent seat in the UN Security Council.
Thailand’s Commerce Ministry has said it is ready to revise long-delayed free trade agreement (FTA) negotiations with the European Union (EU) and has scheduled public hearings nationwide before proceeding with proposals of the talks for cabinet approval by November.
A mechanism indicating fair, transparent and objective rules for ASEAN economies and their enterprises is needed to resolve trade issues when products are exported between markets.
Malaysia’s export has outperformed other Asean countries’ over three quarters of the year amid global trade uncertainties, according to a survey by Institute of Chartered Accountants in England and Wales (ICAEW).
The Blue House of South Korea announced on Sep. 22 that the country is likely to sign free trade agreements with Indonesia, Malaysia and the Philippines at the special ASEAN summit scheduled for Nov. 25 to 27 in Busan City.
As the international trading system grows increasingly strained under the escalating US–China trade dispute and the paralysis of WTO reform, many have eagerly called for the conclusion of the Regional Comprehensive Economic Partnership (RCEP) by the end of 2019. The ASEAN-led initiative is a mega regional free trade agreement (FTA) that was first launched in November 2012 and to date has seen 27 rounds of negotiations.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
