Philippine President Rodrigo Duterte has instructed government agencies to scrap or start easing barriers that foreigners face in multiple business and employment sectors, part of moves to liberalise an economy long criticised as restrictive.
Japan, China, South Korea and member states of the Association of Southeast Asian Nations (ASEAN) have emphasized the need to pursue an open trading system for the region to allow sustainable growth of trade and investments.
On the sidelines of last week’s Asean Summit in Manila, leaders signed a new pact on migrant workers.
An estimated US$2.1 trillion of infrastructure investment is required across ASEAN but current budgets will cover only US$910 million.
Member economies of the Asia-Pacific Economic Cooperation (APEC), including the Philippines, need to ensure the continuous strengthening of capacity building on negotiations for regional trade agreements (RTA) and free trade agreements (FTA).
As the Asia–Europe Meeting (ASEM) enters the third decade, it is time to build a vision for a responsible and responsive ASEM as a champion for multilateral cooperation, said a senior Vietnamese official.
If realised, the free trade agreement between the 10 Asean members and their six dialogue partners - Australia, China, India, Japan, New Zealand and South Korea - will create the world's largest trading bloc, covering almost a third of the global economy.
East Asia is in the middle of hosting leaders from some of the largest and most powerful countries in the world. Between the Asia Pacific Economic Cooperation (APEC) leaders’ meeting in Da Nang, Vietnam, and the East Asia Summit (EAS) meeting in Angeles in the Philippines, leaders from 10 of the G20 members will gather alongside the other smaller Asian and Pacific economies.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
