ASEAN Secretary-General Kao Kim Hourn has urged New Zealand and ASEAN to work closely to ensure that shifting trade dynamics do not undermine the rules-based multilateral trading system both sides support.
Vietnam exported 65.2 billion USD worth of products in January-February, a 9.9% increase compared to the same period last year. Meanwhile, imports totaled 62.9 billion USD, rising 16%, resulting in a trade surplus of 235 million USD.
According to experts, US President Donald Trump’s recent signing of an order imposing tariffs on exports from Canada and Mexico, as well as increasing tariffs on products from China, is seen as the beginning of the tariff policies under the Trump administration. This also leaves the possibility of the US imposing tariffs on imports from other countries.
The World Bank East Asia and Pacific Economic Update October 2020, released on September 29, forecast the Cambodian economy will contract 2 percent this year.
With COVID-19 and trade tensions driving the shift of production lines from China to Southeast Asia, Vietnam, in particular, seems to have emerged as an attractive destination for investors and manufacturers alike, experts have predicted.
The recently signed US-China trade deal, an effort to calm trade tensions between the world’s two largest economies, will force Vietnamese businesses to grow in order to meet the challenges as well as the opportunities it brings, said economic experts.
Although challenges lie ahead, there remains room for agro-forestry-fishery exports to increase in 2020, according to Minister of Agriculture and Rural Development Nguyen Xuan Cuong.
The Singapore economy is expected to grow 0.7 percent this year, up from 0.6 percent in the previous survey in September, according to the latest quarterly poll of professional forecasters by the Monetary Authority of Singapore (MAS) released December 11.
The Philippines has gained from the trade war between the US and China, according to a review of export data of the country in the first seven months of 2019 by Maybank Kim Eng analysts.
Minister of Industry and Trade Tran Tuan Anh has directed relevant agencies to coordinate and implement the most effective solutions to ensure the achievement of export growth targets.
Singapore must work hard to strengthen relations with all countries - not just the United States and China - amid growing trade tensions that threaten to divide the world, Senior Minister Teo Chee Hean has said.
Vietnam’s growth momentum moderated since the beginning of the year, but outlook remains positive, according to Taking Stock, the World Bank (WB)’s bi-annual economic report on Vietnam released on July 1.
Fifty-five percent of German businesses, when asked, have said they want to increase investment capital in Vietnam, higher than the rate for Southeast Asia (44 percent), according to a survey conducted by the German Industry and Commerce Vietnam (GIC) in April.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which came into force in Vietnam on January 14, will support free trade amid ongoing global trade tensions, according to HSBC Vietnam.
Vietnam exported about 1.58 million tonnes of rubber in 2018 – worth 2.1 billion USD and up 14.5 percent in volume, but down 6.6 percent in value year-on-year, the General Department of Vietnam Customs reported.
Indonesia has spent 11.9 trillion rupiah (about 796.7 million USD) in total through several market operations to reduce the pressure from depreciated value of the national currency against the USD, the governor of the country’s central bank said on September 5.
The 50th ASEAN Economic Ministers (AEM 50) Meeting and Related Meetings kicked off in Singapore on August 29 with the participation of economic leaders from 10 ASEAN member states and partner countries.
The increasing trade tensions between the US and China pose one of the most pressing concerns for Southeast Asian nations, Prime Minister Lee Hsien Loong has said.
