Malaysian Prime Minister Najib Razak (Source: ABS-CBN News)
Manila (VNA) – Malaysian PrimeMinister Najib Razak urged reduction of non-tariff barriers and measures so asto facilitate intra-ASEAN trade.
It is in ASEAN's own interests to lead theway in this endeavor, the PM said at a session themed "Prosperity for AllSummit" held during the ASEAN's 30th summit and related meetings on April28.
The Malaysian PM said that ASEAN countries shouldfurther bring down the existing trade tariffs.
WTO figures showed average tariffs in ASEANwere around four percent in 2015, and vigorous efforts are needed to bring themdown to zero.
According to Najib, economies of the ASEANnations are growing faster than most of the rest of the world, and it isexpected that by 2050 the ASEAN economy will amount to over 9.2 trillion USD,making ASEAN the world's fourth largest economy.
To achieve the goal, there has to be a 20percent reduction in fixed trade costs, said the PM, adding that ASEAN needs towork toward facilitative measures such as standardized customs procedures.-VNA
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).
Malaysian Prime Minister Najib Razak on November 20 said after the formation of the ASEAN Economic Community (AEC), economies in the bloc would grow at an estimated average pace of 5.6 percent.
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The ten small and medium Southeast Asian countries have done what many countries in the world desire to do but are unable to achieve, said Deputy PM and Foreign Minister Pham Binh Minh.
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The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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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.
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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.
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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.
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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.
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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.
Malaysian Prime Minister Najib Razak (Source: ABS-CBN News) 
