APEC discusses development of Asia-Pacific Free Trade Area
The development of the Free Trade Area of the Asia-Pacific (FTAAP) and cooperation in trade facilitation between the Pacific Alliance (PA) and APEC member economies were the main focus of a workshop in Ho Chi Minh City on August 26.
Participants at the workshop discussing the ree Trade Area of the Asia-Pacific (FTAAP) and cooperation in trade facilitation between the Pacific Alliance (PA) and APEC member economies (Photo: VNA)
HCM City (VNA) – The development of the Free Trade Area of theAsia-Pacific (FTAAP) and cooperation in trade facilitation between the PacificAlliance (PA) and APEC member economies were the main focus of a workshop in HoChi Minh City on August 26. The four-sessionworkshop looked into the PA as a building block of the FTAAP; the PA and itsties within the Pacific region; and contributions of the PA to the APEC interms of micro, small and medium-sized enterprises, trade facilitation andservices.
Speaking with Vietnam News Agency reporters, PyzhikovNikita, a delegate from Russia, said the FTAAP must be a standard and transparentagreement.
“To ensure that the agreement will be transparent, weshould work together in establishing a framework of this agreement,” he said,underlining the need to organise more similar events to clarify the role ofeach party in the realisation of the FTAAP.
Tang Guoquiang, International Co-Chair of the PacificEconomic Cooperation Chair, said the FTAAP plays an important role in economicdevelopment, trade and investment facilitation in Asia-Pacific, which has beenaffirmed in many research studies and reports.
Lauding Vietnam’s rapid economic growth rate, he saidVietnam is a good example in the Asia-Pacific region.
Vietnam can bring into full play its role in buildingthe FTAAP and the country can benefit from the area, he said.
🀅 As an economic community of four Latin Americancountries, including Chile, Colombia, Peru and Mexico, the PA has been workingsince 2011 to deepen the integration of these economies and to define jointactions to strengthen economic ties with the Asia-Pacific, on the basis ofexisting bilateral trade agreements between countries. -VNA
The SOM Steering Committee on Economic and Technical Cooperation, along with several other APEC committees and groups will meet on August 25 as part of the third SOM Meeting.
Vietnamese Deputy Prime Minister Trinh Dinh Dung called on member economies of the Asia-Pacific Economic Cooperation (APEC) forum to cooperate and support each other in building and developing sustainable and green agriculture adaptable to climate change.
The APEC Economic Committee (EC) convened its second plenary meeting and the fifth meeting of the Friends of the Chair (FotC) on August 25, discussing the making of regulations and policies to boost development in APEC member economies.
Outcomes of the Food Security Week, which took place in Can Tho from August 18-25, have contributed to materialising one of the four priorities of the APEC Year 2017.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
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).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
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.
Participants at the workshop discussing the ree Trade Area of the Asia-Pacific (FTAAP) and cooperation in trade facilitation between the Pacific Alliance (PA) and APEC member economies
