Asean japan comprehensive economic partnership

Singapore (VNA) – The ASEAN+3 Macroeconomic Research Office (AMRO) paints a positive economic outlook for the ASEAN region, China, Japan, and the Republic of Korea (RoK), projecting their growth to hit 4.9 percent in 2020. AMRO upgraded its growth forecast just a month after its previous prediction of 4.7 percent in December 2019, thanks to the signing of a Phase One trade deal between the US and China following nearly two years of dispute. In its report “ASEAN+3 Regional Economic Outlook 2020” released on January 17, AMRO said economic growth of ASEAN 4 (Indonesia, the Philippines, Malaysia and Thailand) and Vietnam will be at 5 percent, while that of China, Japan, the RoK is predicted at 6.1 percent, 0.5 percent, and 2.4 percent, respectively. In the ASEAN bloc, highest growth will be seen in Myanmar (7.1 percent), Cambodia (7 percent) and Vietnam (6.9 percent). AMRO also said that inflation rate of the ASEAN+3 region will be around 2.3 percent, with highest … [Read more...] about Bright growth outlook forecast for ASEAN+3 in 2020

Singapore (VNA) – The ASEAN +3 Macroeconomic Research Office (AMRO) paints a positive economic outlook for the ASEAN region, China, Japan, and the Republic of Korea (RoK), projecting their growth to hit 4.9 percent in 2020. AMRO upgraded its growth forecast just a month after its previous prediction of 4.7 percent in December 2019, thanks to the signing of a Phase One trade deal between the US and China following nearly two years of dispute. In its report “ASEAN 3 Regional Economic Outlook 2020” released on January 17, AMRO said economic growth of ASEAN 4 (Indonesia, the Philippines, Malaysia and Thailand) and Vietnam will be at 5 percent, while that of China, Japan, the RoK is predicted at 6.1 percent, 0.5 percent, and 2.4 percent, respectively. In the ASEAN bloc, highest growth will be seen in Myanmar (7.1 percent), Cambodia (7 percent) and Vietnam (6.9 percent). AMRO also said that inflation rate of the ASEAN 3 region will be around 2.3 percent, with highest … [Read more...] about Bright growth outlook forecast for ASEAN +3 in 2020

During the event, the foreign ministers discussed on the bloc’s 2020 major orientations on Community building, external relations, and an array of regional and global issues among others. The regional foreign ministers voiced support for the theme and priorities initiated by Viet Nam for the ASEAN Chairmanship Year, according to the Vietnamese Foreign Ministry. Accordingly, ASEAN will focus on consolidating ASEAN solidarity and unity, fostering intra economic connectivity, trade and investment as well as sub-region connectivity while actively adapting to opportunities and challenges amid a fast-changing world. The foreign ministers agreed to step up cooperation in environmental protection, peace, security and gender equality. Regarding ASEAN external relations, the foreign ministers underlined the importance of further expanding and deepening cooperation with its dialogue partners, including organization of the ASEAN-US Commemorative Summit in March and the ASEAN-New Zealand … [Read more...] about Regional FMs advocate theme, priorities of ASEAN Chairmanship 2020

The report said that Vietnam’s economic outlook in the long run will rely on the attraction of foreign direct investment, the removal of institutional barriers, the improvement of the business environment and the equitization of State-owned enterprises. … [Read more...] about Better legal framework needed to fuel economic growth: VEPR

Berlin (VNA) – Foreign investors, especially those from the European Union (EU) would find it more appealing to land investment in Vietnam when the EU- Vietnam Free Trade Agreement (EVFTA) takes effect, according to German broadcaster Deutsche Welle (DW). In a story posted on its website, DW said the trade agreement would be the most ambitious the EU has ever negotiated with a developing country, which abolishes 99 percent of customs duties, eliminates bureaucratic hurdles by aligning standards for goods like cars and medicine, and ensures easier market access for both European and Vietnamese companies. On January 21, the EU Parliament’s International Trade Committee (INTA) will present a draft resolution of the EVFTA. If the European Parliament accepts the resolution during its plenary session in February, the EVFTA will come into force one month later. The trade deal is a positive step for the economies of both Vietnam and the EU, DW quoted Vietnamese Ambassador to … [Read more...] about EVFTA makes Vietnam more attractive to EU investors: German media