Indonesia’s parliament on August 30 passed a law cementing the country’s membership of the Regional Comprehensive Economic Partnership (RCEP), making it the latest Southeast Asian nation to join the world’s biggest trade bloc.
Jakarta (VNA) ꧙- Indonesia’s parliament on August 30 passeda law cementing the country’s membership of the Regional Comprehensive EconomicPartnership (RCEP), making it the latestSoutheast Asian nation to join the world’s biggest trade bloc.
The same day, lawmakersalso ratified a bilateral trade pact with the Republic of Korea (RoK), hopingto attract investment to develop the electric vehicle and batteries industry inthe Southeast Asian country.
Indonesian Trade Minister Zulkifli Hasan saidthe RCEP would boost trade, direct investment andincrease the country’s GDP growth by 0.07 percentage point.
The RCEP is a free trade agreement (FTA) between the ten member states of the Association of Southeast Asian Nations (ASEAN) (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam) and its five FTA partners (Australia, China, Japan, New Zealand and Republic of Korea). It covers nearly a third of the world’s populationand about 30% of its gross domestic product.
The deal was signed by leaders of the 15 member countries in November 2020, and entered into force onJanuary 1 this year.
Meanwhile, under the bilateral agreement, Indonesia andthe RoK will eliminate more than 92% and 95% of tariff lines, respectively.Indonesia will give preferential tariffs to support Korean investment in areasranging from automobiles to apparel
🔯 Korean companies such as Hyundai Motor Group and LG Energy Solution arecurrently among top investors in the electric vehicle and battery industry inIndonesia./.
Vietnamese businesses will be provided with consultation on boosting their exports to markets joining the Regional Comprehensive Economic Partnership (RCEP) during a session to be held by the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade in collaboration with Vietnamese Trade Offices in the countries on June 8.
The implementation of the Regional Comprehensive Economic Partnership (RCEP)’s e-commerce commitments will help establish a large e-commerce space based on internationally accepted standards with the participation of big economies who are advanced in e-commerce, according to Deputy Minister of Industry and Trade Tran Quoc Khanh.
A special exhibition area for RCEP member countries will be set up at the 19th China-ASEAN Expo (CAEXPO) slated for September 16-19 in Nanning, the capital of the Guangxi Zhuang autonomous region.
Cambodia's total export to other member countries of the Regional Comprehensive Economic Partnership (RCEP) totaled 3.28 billion USD in the first half of 2022, up 10 percent year-on-year, according to the Cambodian Ministry of Commerce.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
Illustrative image (Photo: China Daily) 
