Malaysian expert: RCEP and China’s economic rebound to assist ASEAN
The Regional Comprehensive Economic Partnership (RCEP) agreement, if signed, could contribute to the post-pandemic recovery in the region, with China's economic growth in the recent quarter being a "convincing reassurance" for ASEAN, said a Malaysian expert.
Hanoi (VNA) - TheRegional Comprehensive Economic Partnership (RCEP) agreement, if signed, couldcontribute to the post-pandemic recovery in the region, with China's economicgrowth in the recent quarter being a "convincing reassurance" for ASEAN,said a Malaysian expert.
China’s Xinhua News Agency quoted Ong Tee Keat, founding chairman of the Centrefor New Inclusive Asia Studies, a think tank based in Kuala Lumpur,Malaysia, as saying that the recently concluded 36th ASEAN Summit further reaffirmedthe commitment of ASEAN and its partners to upholding an open, inclusive andrules-based multilateral trading system through the RCEP.
He said this is particularly timely and crucial to ASEAN against the backdropof a gloomy global economy in the post-COVID-19 era on one hand; and in thewake of rising de-globalisation on the other.
Ong said once it takeseffect, the RCEP could also bring benefits to ordinary people in ASEAN, stressingthat free trade market access with lower tariffs for the entire bloc is"all set to grow by leaps and bounds."
This would hopefully translate into more job creation, higherGDP growth, and speedier poverty reduction to the ASEAN of 650 million people,he added.
The Malaysian expert noted that the economic ties between ASEAN and China will also be furtherstrengthened, as countries across the region are seeking recovery from the COVID-19shock.
According to data from China's General Administration ofCustoms, China’s trade with the bloc stood at 2.09 trillion yuan (299 billion USD)in the first half of 2020, up 5.6 percent year-on-year, making ASEAN China'sbiggest trade partner in this period./.
The completion and early signing of the Regional Comprehensive Economic Partnership (RCEP) is very important to the process of economic recovery in the region, said a member of the Lao negotiation team to the RCEP talks.
Vietnam is playing a very proactive and responsible role in pushing up the negotiations of the Regional Comprehensive Economic Partnership (RCEP) forward, Associate Prof. Dr. Faisal Ahmed from India’s FORE School of Management has said.
An expert of the Republic of Korea (RoK) has highlighted the role of the Regional Comprehensive Economic Partnership (RCEP) in dealing with protectionism, especially in his country.
If the Regional Comprehensive Partnership (RCEP) Agreement could be signed this November, it will send a “clear” and “very strong political signal” about multilateral trading in the context of COVID-19, said an Indonesian official.
Chairman of the Indonesia Food and Beverage Industry Association (GAPMMI) Adhi Lukman has expressed his belief that the Regional Comprehensive Economic Partnership (RCEP) agreement will be signed this year, regardless of the COVID-19 pandemic.
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.
Illustrative image (Photo: internet)
