The accession of Vietnam, a formerly antagonistic communist neighbour, to ASEAN was the result of several major geostrategic power shifts that continue to impact on the grouping’s development today.
Formerly a country that exported crude oil at low prices, Vietnam now produces petroleum products which can satisfy half of domestic demand.
But MAS report says much of region still in early stages of digital transformation. There are many challenges remaining before the Asean economies will be able to embrace the digital economy, a report by the Monetary Authority of Singapore (MAS) noted.
In an odd way, the Trump administration may be making progress in its approach to trade. It began with ideas that identified wrong problems and offered wrong solutions, most notably the president’s fixation on bilateral deficits as the single indicator of a trade relationship.
In May 2018, a Seminar on solutions to promote the development of the National Single Window (NSW), ASEAN Single Window (ASW) and trade facilitation will be held, which will be a specific and vivid evidence of Vietnam’s era of industrial revolution 4.0, with the story of integration of IT systems.
For decades, economists scorned protectionism as a losing proposition. Now some have begun to admit that not everyone benefits from open markets.
ASEAN must deliver more than just material prosperity for its citizens if it is to remain relevant in the next five decades, says former Foreign Minister of Indonesia Marty Natalegawa.
Free trade, migration, and foreign direct investment promise far-reaching potential gains for all parties involved. Will we really allow ignorance and political opportunism to prevent us from realizing them?
Vietnam and Singapore issued a Joint Statement on the occasion of the official visit to Singapore by Vietnamese Prime Minister Nguyen Xuan Phuc from April 25-27.
Currently, Vietnam is one of the most participating country in free trade agreements (FTA) in the world with FTAs. Of which, 10 signed FTAs have taken effect, 2 signed FTAs have not taken effect, 2 FTAs have passed the negotiations, and 3 FTAs have been negotiated.
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