The rise of China in the Indo-Pacific has also challenged the long-standing dominance of US in Asia. Therefore, political uncertainty in the US, rapid economic growth, China’s Belt and Road Initiative and its growing assertiveness, and erosion of ASEAN unity – among others – has compelled India to step up its contribution to a region that is also of vital economic interest to India.
Chinese Premier Li Keqiang on Monday pledged to jointly promote trade and investment liberalization and facilitation with the Association of Southeast Asian Nations (ASEAN), so as to inject positive energy into the world economy.
With Singapore as chair of the regional bloc this year, China has an advantage as the focus shifts from geopolitics to trade and investment.
Leaders of the ASEAN gathered in Singapore on Saturday 28 April to review the bloc’s goals going forward, with Singaporean Prime Minister Lee Hsien Loong calling for greater regional collaboration and integration as a way to bolster against external pressures, including trade tensions among major economies such as the US and China.
Thailand wants to join the Trans-Pacific Partnership "as soon as possible," Deputy Prime Minister Somkid Jatusripitak told visiting Japanese Economic and Fiscal Policy and Revitalization Minister Toshimitsu Motegi who is in charge of negotiations for the pact on Tuesday.
Despite serious concerns on copyright piracy, the EU has raised the Philippines’ standing from “bad” to “better” in the area of protection and enforcement of intellectual property rights.
Asean leaders last week said they were "deeply concerned" over the rising tide of protectionism and anti-globalisation sentiment, and reiterated their continued support for a multilateral trading system.
An official delegation from China’s Hong Kong Special Administrative Region (HKSAR) is seeking closer ties in economic and other areas with Indonesia as well as ASEAN under the Hong Kong-ASEAN free trade agreement (FTA) and the Belt and Road Initiative.
Thailand intends to join the TPP deal, which counts Japan and Australia among its members, after it takes effect. The existing 11 member countries are seeking to have it take effect this year.
Trade Minister Enggartiasto Lukita has said that the government is planning to finish negotiations over the Regional Comprehensive Economic Partnership (RCEP) this year, as, currently, progress in negotiations stands at about 80 percent.
The Association of Southeast Asian Nations will not take the brewing trade conflict between the United States and China sitting down, as the regional bloc will urge the two economies to shun protectionism in favor of free trade at its 32nd summit this week.
Indonesia’s trade minister urged Southeast Asian countries that have not signed up for the Trans-Pacific Partnership trade pact to consider joining and that these economies could collectively negotiate accession terms.
The governments of Japan and China stressed the importance of free trade and pledged to accelerate negotiations of bilateral pacts at their high-level economic dialogue in Tokyo on Monday, the first such meeting in eight years.
The United States and Thailand met today under the US-Thailand Trade and Investment Framework Agreement (TIFA) to discuss ways to deepen trade ties and address outstanding bilateral trade issues between them. The two sides reaffirmed the importance of their longstanding relationship and of working together to expand trade.
An amendment recently introduced in Thai parliaments will take seeds out of the hands of women, farmers and indigenous peoples who have kept seeds, shared seeds and developed a wealth of local knowledge on plant varieties— and put them instead in the hands of large corporations.
Pakistan and China started negotiations on the second phase of the Pak-China FTA in 2011. So far, 10th meetings have been held in this regard. China was not willing to offer Pakistan substantial market access on items of Islamabad’s interest.
Project delays after initial fanfare, projects sometimes experience serious delays. In Indonesia, construction on a $6 billion rail line is behind schedule and costs are escalating. Similar problems have plagued projects in Kazakhstan and Bangladesh.
Speaking at the 16th ASEAN Economic Ministers (AEM)-EU Trade Commissioner Consultations in Singapore on Friday, Trade Minister Enggartiasto Lukita outlined the desired impact a free trade agreement (FTA) between ASEAN and the European Union would have on small and medium enterprises (SMEs) and the palm oil industry.
Thailand is expecting “some progress” towards finalisation of the long-delayed Regional Comprehensive Economic Partnership (RCEP) before July as a ministerial-level meeting is likely soon to address many of the pending issues.
Indonesia has called on ASEAN member countries to develop a unified position in negotiations on the Regional Comprehensive Economic Partnership (RCEP).