The Philippines has formally expressed interest in joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), with the goal of building new relationships with countries outside its existing bilateral free trade agreements.
Inside an electronics factory in the Philippines (Photo: Reuters)
Hanoi (VNA) - The Philippines has formallyexpressed interest in joining the Comprehensive and Progressive Agreement forTrans-Pacific Partnership (CPTPP), with the goal of building new relationshipswith countries outside its existing bilateral free trade agreements.
Ramon Lopez, secretary of trade and industry, sent asigned letter of intent to New Zealand, the depositary nation of the CPTPP,Nikkei Asia reported.
The newspaper said Lopez asked about the process ofjoining the CPTPP as well as how it operates.
It quoted Ceferino Rodolfo, an undersecretary assaying that it would be critical for the Philippines to engage the CPTPPmembers that are currently not part or not a partner of the Philippines in FTA,which are Canada, Mexico, Peru and Chile.
Nikkei Asia said diversified trade ties could allowthe Philippines to be less dependent on China amid simmering tensions caused byterritorial disputes. China is among the country's top export markets and isits largest trading partner overall.
The original 12 countries participating in CPTPPtalks, including the US, held a summit in Manila in 2015. Then PhilippinePresident Benigno Aquino had expressed an intention to join the TPP, but the countrynever did.
The UK has formally applied to join the CPTPP. Othernations, such as China and Thailand, have also expressed interest./.
The UK made a formal request on February 1 to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the first accession application by a member outside the 11 participating Pacific countries since the trade deal came into force in 2018.
Vietnam and Canada have enjoyed robust trade ties thanks to opportunities brought by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) that took effect in Vietnam from January 14, 2019, heard a conference held in Hanoi on March 23.
Preferential tariff treatment under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has brought in robust results to the trade in goods between Vietnam and Canada, according to insiders.
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).
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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.
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.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
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.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
Inside an electronics factory in the Philippines (Photo: Reuters) 
