At the conference (Source: VNA) Beijing (VNA) - A roundtable conference on ASEAN-China trade cooperation took place in Beijing, China on May 31, aiming to implementing common perceptions reached between the two sides during the Belt and Road Forum for International Cooperation in April 2019. It is hoped to further promote trade cooperation between China and ASEAN to jointly deal with unstable factors in the world. Speaking at the event, Chairman of Trade Council of China Xu Ningning said by the end of the first quarter of 2019, the trade turnover between China and ASEAN reached 137.1 billion USD, and ASEAN becomes China's second largest trading partner. Hua said as of the end of 2018, the total bilateral investment hit 205.7 billion USD, representing a 22-fold increase after 15 years. In the context of the rising US-China trade tension, Chinese businesses will expand investment to ASEAN countries, he noted. More than 20 leaders of China's national trade associations held … [Read more...] about ASEAN, China seek to promote trade cooperation
Myanmar china trade
The Chong Chom checkpoint in Kab Choeng district of Surin in Thailand is a main trading post with Oddar Meanchey in Cambodia (Photo: www.bangkokpost.com) Bangkok (VNA) – Thailand fetched 1.4 trillion THB (44.5 billion USD) from cross-border trade in 2018, up 6 percent over the previous year, but falling short of the set target of 1.5 trillion THB. According to Thailand’s Department of Foreign Trade, the ongoing US-China trade row, natural disasters, and foreign exchange fluctuations were the main factors hampering trade. Of the cross-border trade total, border exports represented 778.29 billion THB, down 0.8 percent year-on-year; while border imports were worth 614.33 billion THB, up 14.9 percent. Thailand’s border trade with Laos, Myanmar, Cambodia, and Malaysia reached 1.12 trillion THB – with exports making up 650.9 billion THB, down 0.5 percent; and imports worth 473.76 billion THB, up 11 percent. Malaysia was the biggest partner for border … [Read more...] about Thailand: Cross-border trade up 6 percent in 2018
VietNamNet Bridge - The textile & garment export turnover in the first 10 months of the year reached $25.15 billion, an increase of 17.1 percent compared with the same period last year, partly due to the trade war between the US and China, according to the Ministry of Industry and Trade (MOIT). The textile & garment export turnover is on the rise The US continues to be the biggest export market for Vietnam, bringing about 50 percent of total export turnover. MOIT confirmed that exports increased sharply partly thanks to the trade war as orders left China for Vietnam. Vietnam is expecting rapid growth rates in the export of textiles and garments, which will see the biggest benefits from the US-China trade war. The Chinese yuan is depreciating against the US dollar and against the Vietnam dong as well. This allows Vietnamese enterprises to import fabric and input materials from China at lower prices. Meanwhile, Vietnam can obtain bigger market share in the US as … [Read more...] about Can Vietnam’s textile & garment industry benefit from the trade war?
By Reuters  October 4, 2018 | 03:09 pm GMT+7 A stack of smuggled ivory seen in a file photo by AFP Hundreds of seized elephant tusks, pangolin scales and other animal parts were destroyed Thursday as part of a crackdown on illegal wildlife trafficking. Authorities set fire to pyres stacked with 277 pieces of elephant ivory, 1,544 antelope horns, 180 tiger bones and other confiscated items weighing more than 1.4 tons at a government compound in the capital, Naypyitaw. "It is crucial to sustainably conserve our country's natural resources, including land, water, forest, mountains and wildlife, for the sake of our future generations," Minister of Natural Resources and Environmental Conservation Ohn Win said during the ceremony. Myanmar, which lies in the notorious "Golden Triangle" region bordering Thailand and Laos, is at the heart of the global trade in illicit wildlife, with goods smuggled mostly to China. A report by conservation group Save the Elephants this … [Read more...] about Myanmar torches illegal wildlife stockpile worth $1.3 million to deter smugglers
The escalating trade spat between Washington and Beijing has caused global ripples -- and is being closely watched in Southeast Asia where many export-focused economies are set to gain from the fallout. Trump has already imposed 25 percent customs duties on $50 billion worth of Chinese goods -- triggering a tit-for-tat response from Beijing -- and vowed last week to increase tariffs to hit $200 billion in Chinese imports "very soon." The mounting dispute looms over a regional World Economic Forum (WEF) kicking off in the Vietnamese capital Wednesday morning where leaders from the Association of Southeast Asian Nations (ASEAN) and business executives are meeting. "ASEAN countries don't want to count their chickens before they hatch, but I think they see it on a net basis as a gain for them because it means shifting manufacturing into Southeast Asia that was...(earlier) in China, " Fred Burke, managing partner at Baker McKenzie in Vietnam, told AFP. Rising labour costs in the world's … [Read more...] about US-China trade spat looms over regional WEF meeting