Tag: trade

The new China-Laos-Thailand train route cuts travel time to 55 hours, offering a 20% cost reduction for transporting fresh produce. With 19 refrigerated containers capable of carrying 286 tonnes of vegetables, the service connects Kunming to Bangkok via Vientiane, promising enhanced trade efficiency for China and Asean members.

The United States is rebuilding its military presence in the Philippines after more than 30 years, gaining access to additional military camps. This move is part of a broader strategy to fortify alliances in Asia and respond to China's increasingly aggressive regional posture, with infrastructure investments supporting rotating US troop deployments.

The European Union and G7 allies have banned Russian diesel and refined oil products, aiming to reduce Moscow's energy income without disrupting global markets. The move targets Russia's military funding while preserving diesel supplies for critical economic sectors like transportation and agriculture.

Cambodia's commerce minister Pan Sorasak reports significant trade improvements in 2022, with foreign trade value reaching $52.425 billion. Imports and exports increased by 4.32% and 16.44% respectively, leading to a 20.60% reduction in trade deficit. The ministry focuses on reforms and enhancing business environment for continued growth.

A leading Malaysian business leader anticipates increased Chinese investment will support Malaysia's transition to a low-carbon economy. Datuk Liew Chee Ming highlights potential growth in high-tech industries, particularly electric vehicle production, as Chinese economic recovery progresses.

Malaysia's total trade reached RM236.0 billion in December 2022, marking an 8.6% year-on-year increase. Exports rose 6.0% to RM131.9 billion, while imports grew 12.0% to RM104.1 billion. The country's total trade for 2022 hit a new milestone of RM2.8 trillion.

The European Union is considering substantial subsidies to compete with US green technology investments, but smaller member states like Sweden warn that larger countries like Germany and France might disproportionately benefit, potentially threatening the EU's single market principles.

Chile's ratification of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) creates significant opportunities for Malaysian businesses, enabling reduced tariff rates and improved trade prospects between the two countries.

Taiwanese economic officials express concerns about recent US semiconductor legislation potentially harming Taiwan's critical chip export industries. The $50 billion Chips and Science Act aims to reduce reliance on Taiwanese technology, creating uncertainty for the island's tech manufacturing sector.

Asia-Pacific Economic Cooperation (APEC) leaders gathered in Bangkok, Thailand, to address global economic challenges. The summit focused on condemning the Russia-Ukraine conflict, promoting open trade, and seeking sustainable economic growth across the region. Most participants denounced the war, marking a significant diplomatic moment.