ASEAN and Canada set a target to double the current 19 billion CAD (13.2 billion USD) in bilateral trade during the fourth ASEAN-Canada consultations in Kuala Lumpur, Malaysia on August 25.
Ministers at the fourth ASEAN-Canada Consultations (Source: VNA)
The Association of Southeast Asian Nations (ASEAN) and Canada set a target to double the current 19 billion CAD (13.2 billion USD) in bilateral trade during the fourth ASEAN-Canada consultations in Kuala Lumpur, Malaysia on August 25.
At the meeting, ASEAN and Canadian economic ministers expressed their satisfaction with the implementation of the 2014-2015 action plan for the two sides’ Joint Declaration on Trade and Investment (JDTI) through senior dialogues, trade and investment promotion activities and the involvement of Canadian enterprises in events and fairs in ASEAN.
They approved another action plan for 2016-2020 to intensify bilateral economic cooperation with a focus on small- and medium-sized enterprises, and share information between Canada’s corporate social responsibility (CSR) network with ASEAN CSR experts as well as information relating to energy, aviation, agriculture, oil and gas, information technology and infrastructure.
In 2014, trade reached 13.2 billion USD, up 10.9 percent against the previous year. Canada was the seventh largest investor in ASEAN with 1.3 billion USD.
On the same day at the fourth ASEAN-Russia consultations, economic ministers appreciated measures to further enhance bilateral economic ties through the implementation of the ASEAN-Russia trade and investment cooperation programme with a focus on tourism, energy, farm produce and technology.
They expressed their delight at the growth of bilateral trade with total turnover reaching 22.5 billion USD last year, an annual rise of 13 percent. ASEAN exports made up 5.4 billion USD of the total, up 3.3 percent. Russia was ASEAN’s eighth biggest trade partner in the year.
To deepen the ties, the ministers approved a post-2015 trade and investment cooperation programme in line with the ASEAN-Russia trade and investment cooperation road map adopted on October 12, 2012.
They also welcomed a list of 57 Russian projects to strengthen economic cooperation in the private sector.
At the consultation meeting between ASEAN economic ministers with the ASEAN Business Advisory Council (BAC), participating ministers appreciated BAC proposals on the post-2015 agenda, saying they will help intensify connectivity in financial service, reduce or eliminate non-tariff barriers, facilitate the travel of experts and skilled labourers and design a common private sector assessment system beyond 2015.
They also revealed that the ASEAN young entrepreneur council will debut in November.-VNA
Russia considers ASEAN an important partner, Russian Deputy Prime Minister Arkady Dvorkovich told ASEAN Secretary General Le Luong Minh during their meeting in Jakarta on April 20.
The ASEAN Business Advisory Council (ASEAN-BAC) submitted proposals to the 26th ASEAN Summit in Malaysia on April 26-27, highlighting the need to form a regional bank and remove non-tariff barriers before the ASEAN Economic Economy is formed by the end of 2015.
The 47th ASEAN Economic Ministers’ Meeting (AEM 47) will be held in Kuala Lumpur from August 22-25 to put the finishing touches on the formal establishment of the ASEAN Economic Community (AEC).
The handover ceremony was held at the Malaysian Embassy headquarters in Mexico City on August 8, with the presence of heads of diplomatic missions from ASEAN member states in Mexico.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
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.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
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.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Ministers at the fourth ASEAN-Canada Consultations (Source: VNA)
