During the 27th ASEAN-China Summit in Vientiane, ASEAN and China announced the near completion of negotiations to upgrade the ASEAN-China Free Trade Area (ACFTA), with finalization expected next year. The upgrade, critical amidst rising global protectionism, will focus on new areas such as the digital and green economies, supply chain Read more…
During the 21st ASEAN-India Summit, Malaysian Prime Minister Datuk Seri Anwar Ibrahim called for the expedited review of the ASEAN-India Trade in Goods Agreement (AITIGA). Emphasizing the importance of fostering a strong business environment, Anwar highlighted opportunities to leverage India’s expertise in digital innovation and software development. The summit, attended Read more…
Focus on Cooperation with China, Japan, and South Korea; Exploring Economic Opportunities with Australia, New Zealand, and Beyond ASEAN is making strides to deepen economic ties beyond its member countries, focusing on enhanced trade and investment opportunities with China, Japan, and South Korea — collectively known as the “Plus Three.” Read more…
Singapore is playing a crucial role in promoting inclusive trade across ASEAN, particularly for the region’s lower-income economies. As global trade evolves, Singapore leads efforts to ensure equitable participation through digital trade initiatives and policy reforms. One key initiative is the ongoing negotiation of the ASEAN Digital Economy Framework Agreement Read more…
Since the inception of the China-ASEAN Expo in 2004, bilateral trade between China and ASEAN nations has witnessed significant growth, achieving an average annual increase of 11 percent from 2004 to 2023, according to China’s General Administration of Customs (GAC). This growth rate has outpaced China’s overall foreign trade growth Read more…
Strategic Investments to Capture Market Share in a Rapidly Growing Region United Overseas Bank (UOB), Singapore’s third-largest lender by assets, is gearing up to solidify its position as the dominant trade financing bank in Southeast Asia, aiming to capture a significant portion of the region’s US$2 trillion trade flow market. Read more…
Indonesia Leads Southeast Asia’s Energy Transition with Renewable Energy Investments As the world accelerates towards a low-carbon future, ASEAN is emerging as a crucial player in global decarbonization due to its rich natural resources and renewable energy potential. At the forefront of this transition is Indonesia, a key energy exporter, Read more…
Malaysia Pushes for Long-Term Vision and Deeper ASEAN Cooperation Malaysia is calling for a more robust and sustained approach to the ASEAN chairmanship, advocating for enhanced cooperation among member states beyond the current one-year term. YB Liew Chin Tong, Deputy Minister of Investment, Trade and Industry, emphasized the importance of Read more…
The future growth of ASEAN’s economy heavily relies on its over 71 million micro, small, and medium-sized enterprises (MSMEs) effectively harnessing digital trade. With the region’s digital economy expected to reach $1 trillion by 2030, the success of this transformation depends on long-term collaboration between the public and private sectors. Read more…
Today marks the 57th anniversary of the founding of the Association of Southeast Asian Nations (ASEAN), a milestone celebrated annually as ASEAN Day. Born out of the turbulent post-World War II era and Cold War tensions, ASEAN was established on August 8, 1967, by Indonesia, Malaysia, the Philippines, Singapore, and Read more…