Due to its potential for growth and development, U.S. businesses are looking to increase commercial and economic ties with the Philippines. Last week, U.S. Secretary of Commerce Penny Pritzker visited the Philippines to meet with President Aquino and other officials.
Bilateral trade between Cambodia and Malaysia during the first quarter of 2014 was up by 17.6 percent compared to the first quarter of 2013, a Malaysian official announced this week.
Last week, Thailand’s military government announced a series of emergency economic measures that will aim to breathe life into the country’s struggling economy.
There are a number of important ASEAN regional meetings taking place in June, including the ASEAN-Republic of Korea Dialogue, the ASEAN-Russia Senior Officials Meeting and the ASEAN-Japan STOM Leaders Conference.
The Government of Hong Kong has initiated a public consultation on the proposed free trade agreement between Hong Kong and the Association of Southeast Asian Nations. As the second largest trading partner in goods with Hong Kong, ASEAN receives the fifth largest inflow of FDI from Hong Kong. Despite this, the territory is not covered by the current China-ASEAN FTA that came into effect in 2010.
The Cambodian National Assembly approved changes to the country’s customs laws last week, marking another step towards achieving deeper integration within the ASEAN region.
Indonesia and the Philippines inked an agreement last week that clearly defines the borders of the two countries’ Exclusive Economic Zones (EEZ) in the Mindanao Sea and Celebes Sea.
Last week, the ASEAN Infrastructure Fund (AIF) approved a US$100 million loan to finance a power transmission project in Vietnam while giving the green light to several other infrastructure projects in the region.
While Thailand’s military coup may cause some issues for international investors, companies operating in the country remain stable as the military seeks to enforce a period of calm before establishing an interim government.
ASEAN finance ministers gathered in Manila on Tuesday at the 10th ASEAN Finance Ministers’ Investors Seminar to discuss various political and economic issues, and to finalize the framework for 2015 economic integration.