ASEAN Secretary-General Kao Kim Hourn has said the Association of Southeast Asian Nations (ASEAN) is striving to increase the membership of the Regional Comprehensive Economic Partnership (RCEP).
RCEP accounts for 32% of the world’s total GDP. (Photo: VNA)
Jakarta (VNA) – ASEAN Secretary-General KaoKim Hourn has said the Association of Southeast Asian Nations (ASEAN) is strivingto increase the membership of the Regional Comprehensive Economic Partnership (RCEP).
Speaking at the ASEAN-Japan Business Week in Tokyo onJune 5, Kao said the ten-member grouping also plans to establish a unit in the ASEAN Secretariat insupport of the RCEP, which accounts for 32% of the world’s total GDP.
ASEAN economic ministers are also working onprocedures to allow other economies to join the agreement.
The RCEP gathers the 10 ASEAN members (Brunei,Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore,Thailand, and Vietnam) and China, Japan, the Republic of Korea (RoK), Australiaand New Zealand.
The deal has recently come into full effect in all the15 member countries after it officially took effect in the Philippines onJune 2.
The RCEP will eliminate up to 90% of tariffs on goods traded among the signatorieswithin 20 years, starting from the agreement's entry into force.
Kao called the RCEP – the largest free trade agreementin the world – a crucial initiative in support of businesses, especially thosefrom Japan. According to him, more than 14,000 Japanese companies are operating in ASEAN countries./.
Malaysian International Trade and Industry Minister Zafrul Aziz has said the country sees its commitment to the Association of Southeast Asian Nations (ASEAN) as a strategic imperative in its engagement with other ASEAN member states and China.
Only 11% of Malaysian manufacturers are utilising both the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreements, according to a recent survey of the Federation of Malaysian Manufacturers (FMM).
The Regional Comprehensive Economic Partnership (RCEP) Agreement entered into force for the Philippines from June 2, 60 days after it has deposited its Instrument of Ratification with the Secretary-General of ASEAN in his capacity as the Depositary for the RCEP Agreement, the ASEAN Secretariat announced.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
RCEP accounts for 32% of the world’s total GDP. (Photo: VNA)
