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Singapore ratified the Regional Comprehensive Economic Partnership (RCEP) agreement on Friday, according to a press release issued by the Ministry for Trade and Industry (MTI).
HANOI (Vietnam News/ANN): The Vietnam Chamber of Commerce (VCCI) said poor competitive capacity will hinder businesses from gaining benefits from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
SINGAPORE (The Straits Times/ANN): Singapore has ratified the Regional Comprehensive Economic Partnership (RCEP) and deposited its ratification instrument, becoming the first participating country to complete the official process.
Vietnam shifts leaders but keeps key economic policies in place; little known Pham Minh Chinh set to be PM
Vietnam’s Communist Party on Monday nominated a little-known official to be the country’s next prime minister, tasked with reviving the economy in the wake of the pandemic while navigating growing US-China tensions.
Four months after RCEP was signed, a study surfaces, with gloomy trade data, portending a shaky future for the Kingdom and Asean as a whole.
BEIJING: With China leading the global economic recovery from the impact of the Covid-19 pandemic, the country’s mega market, optimised business environment, and status as the biggest trading partner of more than 120 countries and regions will continue to generate big dividends for global companies in the long run, business leaders said.
FACED with a yearly budget deficit, narrow-tax base and rising expenditure, the government has to undertake a tax reform to broaden its revenue base. The move is to be accompanied by expenditure rationalisation to achieve its medium-term fiscal consolidation and deficit reduction target.
DESPITE the Covid-19 pandemic that has plagued Malaysia’s industries for a full year, the timber industry registered encouraging export figures of RM22.02bil to rank third after palm oil and rubber in the primary sector, declining just 2% from 2019’s RM22.50bil.
BEIJING: China will leverage high-level openness to promote the dual-circulation development pattern, which should not only help stimulate domestic consumption but attract foreign resources, the country’s top commerce official said.
HANOI (Vietnam News/ANN): Vietnam’s trade balance posted positive US$1.29 billion in the first two months of the year, the General Department of Customs has said.