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On the economic front, trade and investment links with Southeast Asian nations have received a major boost, with annual bilateral trade surging from around US$80 billion in 2014 to more than US$110 billion by 2021-22. However, the existing trade accord with the Association of Southeast Asian Nations – the Asean-India Free Trade Area – is seen as heavily favouring the Asean side, frustrating India.
TOKYO/KUALA LUMPUR/BANGKOK -- ASEAN countries' exports to the U.S. in the January-March period surpassed those to China for the first time in six quarters as the region's trade appears to be shifting along with moves in the global supply chain.
Singapore and Malaysia on January 11 signed an agreement on a new Johor-Singapore special economic zone under which both sides will work towards boosting the cross-border flow of goods and people, and supporting investments on both sides of the Causeway.
Singapore is giving us a glimpse of what Cambodia could become. New Prime Minister Lawrence Wong benefits from a consultative approach to policy as he takes over from Lee Hsien Loong, who had been in power for 20 years.
KUALA LUMPUR -- New Zealand is strengthening its cooperation with the Association of Southeast Asian Nations to enhance regional stability, address climate change and take on other challenges presenting themselves as the global order grows ever tenser, its deputy prime minister said.
China reported higher-than-expected export growth in May of 11.2% in RMB terms and 7.6% in terms of US dollars year-on-year, indicating that the country is like to meet the government’s 5% growth target for 2024.
China’s exports remain under increasing pressure from intensifying trade frictions and looming tariffs from the United States and European Union, analysts said, despite shipments having accelerated in May for a second consecutive month – partly due to a surge in demand from Southeast Asia.
In a Facebook post on Sunday on its official page expressing outrage, the Russian embassy accused Zelensky of attempting a “last resort to persuade the Global South” to join the Switzerland summit, which it called “bizarre”.