Economy & Trade

ASEAN and China Continue Negotiations on Expanded FTA

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ASEAN and China have announced that they expect to complete their negotiations on an expanded free trade agreement (FTA) by November of this year. The announcement was made on August 23 during the 47th Association of Southeast Asian Nations Economic Ministers’ Meeting. During the recent gathering, the economic ministers of the ASEAN nations met with China’s Minister of Commerce, Gao Hucheng.

No New Tax Measures from the Philippines for President Aquino’s Final Year

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According to recent statements from the Philippine government, the country will not be introducing any major new tax measures during President Benigno Aquino’s final year in office. However, the government will continue to search for efficiencies in the areas of tax administration and collection in order to boost tax receipts.

Norway Enters into Formal Partnership with ASEAN

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Norway has become the first European country to enter into a formal partnership with the ASEAN trading bloc. The northern European country has been accepted as a Sectoral Dialogue Partner, a move that was announced at the recent ASEAN meeting in Kuala Lumpur.The ASEAN free trade area includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

The Future of ASEAN-India Trade Looks Bright

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Trade between ASEAN and India has seen strong growth over recent years. In 2014, total trade amounted to US$77 billion, a significant increase over the US$44 billion seen during 2009-10. Over the past decade, bilateral trade has increased at an average annual rate of a blistering 23 percent.

UK Prime Minister Cameron’s ASEAN Trip Reflects Growing Trade Links and Opportunities

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Last week, David Cameron capped off a five day long tour of South East Asia to discuss trade with the UK. The region, which has outpaced global growth by over two percent over the past two decades, is attractive to UK businesses seeking markets beyond the EU.

State by State: ASEAN and Arizona Trade

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Arizona has a near US$2billion export trade business with the ASEAN nations, representing about 6 percent of the state’s total exports. These support some 11,896 American jobs in Arizona. Learn about Arizona’s present and future trade prospects with the Association of Southeast Asian Nations.

Assessing Foreign Investment Prospects in ASEAN Through the Business Optimism Index

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In recent years, ASEAN has become a hotbed for foreign investment. In 2014, ASEAN member states combined for over US$2.3 trillion in total GDP. Each ASEAN nation, however, present their own unique advantages and challenges for foreign investment. The ASEAN Business Optimism Index, released each quarter by Dun & Bradstreet, provides in-depth insight into business sentiment for the quarter ahead as measured by sales volume, net profit, selling price, new orders, inventory, and employment across sectors and industries.

Laos-Vietnam Border Trade Agreement Signed

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A bilateral border trade agreement between Laos and Vietnam was signed on June 27, 2015 in Vietnam’s Nghe An Province.

State by State: ASEAN and Virginia Trade

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ASEAN may not figure highly on the radar for businesses in Virginia, but exports to the South-East Asian bloc represent a one and a half billion dollar trade value, amounting to 5 percent of all Virginian exports. That amount is not to be sniffed at and suggests potential for development.

July 2015 ASEAN Regional Meetings

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There are a number of important ASEAN regional meetings taking place in July, including the ASEAN-European Union Senior Officials’ Meeting taking place in Brussels, and the 7th Meeting of the High Level Task Force (HLTF) on ASEAN Community’s Post-2015 Vision taking place in Singapore.

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