ASEAN becomes biggest trade partner of China in H1
The Association of Southeast Asian Nations (ASEAN) became China's biggest trading partner in the first half of this year, accounting for 14.7 percent of the nation's total foreign trade volume.
Hanoi, (VNA) - The Association of SoutheastAsian Nations (ASEAN) became China's biggest trading partner in the first halfof this year, accounting for 14.7 percent of the nation's total foreign tradevolume.
China's trade withASEAN stood at 2.09 trillion CNY (about 299 billion USD) in the first six months, up 5.6 percent year on year. Exports to ASEANrose 3.4 percent to 1.15 trillion CNY, while imports climbed 8.5 percent to 938.57 billion CNY, data from the GeneralAdministration of Customs (GAC) showed on July 14.
According to GAC spokesman Li Kuiwen, the expansion was partlybuoyed by growing farm produce trade with ASEAN members under the upgradedprotocol of the China-ASEAN Free Trade Area, which came into effect in October2019. The farm produce trade between the two sides grew 13.2 percent in H1.
During the sameperiod, China's trade with Vietnam jumped 18.1 percent, pushing the bilateraltrade volume to the top place among ASEAN members, while trade with Thailand rose 9.2 percent./.
Chairman of the Indonesia Food and Beverage Industry Association (GAPMMI) Adhi Lukman has expressed his belief that the Regional Comprehensive Economic Partnership (RCEP) agreement will be signed this year, regardless of the COVID-19 pandemic.
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Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
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Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
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Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
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Singapore led with a total of 8.8 billion USD in realised investment, followed by Hong Kong and mainland China, Malaysia, and Japan with 8 billion USD, 1.7 billion USD and 1.6 billion USD, respectively.
Thai Acting Prime Minister Phumtham Wechayachai on August 7 outlined his strategy for tackling drug problems in Thailand, aiming for a "Zero Drugs Thailand" within three months.
The US has described Malaysia's role as Chair of the Association of Southeast Asian Nations (ASEAN) as vital in helping ease tension between Thailand and Cambodia.
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