Market-opening international trade policy reform tends to yield positive results. When trade flows increase, nations on both ends tend to benefit. At the enterprise level, in a trade transaction both parties usually perceive a benefit, otherwise the transaction would not take place. Douglas Lippoldt, chief trade economist at HSBC Global Research Trade often delivers benefits domestically thanks to increases in productivity from economies of scale and specialisation, competition, and returns to investment in innovation. The economic gains generally outweigh any trade-related adjustment costs by a large margin. According to one big historical study, countries that liberalised their trade regimes were able to accelerate annual economic growth on average by about 1.5 percentage points. Among the Asia-Pacific nations we can see this in action. Global, regional, and bilateral accords are delivering increased market openness. This rules-based framework is helping to reduce policy … [Read more...] about Asia Pacific advances trade liberalisation as US swims against current
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Vietnam economy grows at best rate in a decade
Vietnam's economy saw its strongest first-quarter growth in a decade, data showed on Thursday (Mar 29), driven by a surge in electronics manufacturing and exports. While agriculture and wholesale and retail trade have seen steady rises, manufacturing remains a the pillar of Vietnam's growth. (Photo: AFP/Hoang Dinh Nam) The reading comes as the communist country is poised to expand its overseas markets after signing an 11-nation Asia-Pacific trade deal this month that replaces the Trans-Pacific Partnership (TPP), scrapped by the US last year. Observers said a spike in exports was a promising sign that Vietnam's market has not been dented by US President Donald Trump's protectionist agenda. The 7.38 per cent GDP expansion in January-March was sharply up from the rate of just over five per cent seen in the same period last year, according to the Government Statistics Office, and well above the government's annual target of 6.7 per cent. The figures are the best since a 7.40 per … [Read more...] about Vietnam economy grows at best rate in a decade
President Quang encouraged US investors
The Hanoitimes - President Tran Dai Quang encouraged US businesses to make investment in Vietnam’s energy, oil and gas, infrastructure, finance-banking, education and training, and tourism while addressing a workshop on the Vietnam-US prospects in 2017 and the following years in Hanoi on May 19. The event was jointly held by the Vietnam Chamber of Commerce and Industry (VCCI) and the American Chamber of Commerce (AmCham). Vietnam hopes to export to the US its farm produce, seafood, timber products, garment-textile, electronics, and consumer products, while importing hi-tech commodities to serve the local economy, he said. He added that the country highly values investment projects of US businesses and vows to provide the optimal conditions for foreign investors to make long-term investment. The successful economic cooperation will create an important foundation for the bilateral comprehensive partnership to grow in a sustainable, constructive and mutually beneficial manner, he … [Read more...] about President Quang encouraged US investors
Bản in : Community establishment to be signed by ASEAN leaders
Kuala Lumpur (VNA) - The signing of a historic declaration on the formation of an ASEAN Community by the end of this year by all 10 ASEAN leaders will be the highlight of the upcoming 27th ASEAN Summit. During the 27th ASEAN Summit and related meetings that will take place in Kuala Lumpur, Malaysia, from November 18-22, ASEAN leaders will also sign the Kuala Lumpur declaration on ASEAN Vision to 2025 and discuss regional and international issues of shared concern, announced a press conference in Kuala Lumpur on November 18. The summit will draw leaders from ten ASEAN member nations and dialogue partners, including Australia, China, India, Japan, the Republic of Korea (RoK), New Zealand, Russia, and the US. The United Nations Secretary General will attend the event, said the press conference. A series of related activities will be held in the framework of the event, including t he 18th ASEAN+3 Summit between ASEAN and Japan, the RoK and China , the 10th East Asia Summit (EAS) Summit, … [Read more...] about Bản in : Community establishment to be signed by ASEAN leaders
Stakes are high
Vietnam has finally made the historic decision to allow Vietnamese citizens to enter casinos in the country. According to the latest decree, for Vietnamese nationals to gamble at casinos they must be at least 21 years of age, have proof that their minimum monthly income is VND10 million ($440), pay an entrance fee of VND1 million ($44) for 24 hours or VND25 million ($1,100) for a month, and not have any official requests from family members that the casinos should refuse them entry. Since the decree was released in the opening days of the year, Ms. Mai Thi Tuyet, a 31-year-old accountant living in Ho Chi Minh City’s District 4, has been concerned about her husband. “He works at an export processing zone on a monthly salary of VND12 million ($530) and is addicted to gambling,” she said. If local people are permitted to enter casinos, “I’m afraid he won’t be able to control himself.” Others on high incomes and without addiction problems, … [Read more...] about Stakes are high