An escalating trade war between the US and China is causing companies caught in the crossfire to accelerate plans to shift portions of their supply chains out of the mainland, with Southeast Asia slated to benefit from the disruption of trade flows, according to a Citigroup official.
Singapore and China have concluded talks to upgrade the China-Singapore Free Trade Agreement (CSFTA), Singapore’s Ministry of Trade and Industry (MTI) said in a statement on Monday (Nov 5).
The Asean economic integration can only be realised through concerted efforts by the Asean member states (AMS).
Asean is one of the most bullish regions for trade and commercial activity, despite having the highest proportion of corporates which expect protectionism to rise, said HSBC Bank Malaysia Bhd.
An overhaul of global trade is urgently needed, 13 trade ministers representing all regions of the world said Thursday, following two days of talks in Ottawa aimed at setting objectives to reform the troubled system.
Singapore and the European Union have inked a landmark trade agreement, hailing it as a signal of their commitment to open trade and its potential to benefit their people.
As two of the world's most successful regional organisations, Asean and the European Union are natural partners, especially in the light of protectionist sentiments that threaten the rules-based global order.
The Philippines on Friday evinced interest in collaborating with Jharkhand in the trade of jackfruit, which the state produces in abundance.