Kuala Lumpur (VNA) – ASEAN economies and India have benefited from the supply chain diversification, primarily in textiles and electronics, according to Moody's Ratings.
In a statement on March 21, the global credit rating agency said the supply chain movements away from China to alternative neighbouring markets are so far limited despite US-China trade tensions.
"China's value chain dominance makes it difficult for producers to reduce reliance on Chinese inputs, although multinationals are progressing in shifting production closer to suppliers," it said.
However, trade and investment gains have been uneven with the US’ imports from ASEAN and India remaining low, making up around 9% and 3% of the North American country’s total imports in 2024.
Meanwhile, China is redirecting exports to ASEAN, Russia, and the European Union.
"Foreign investment flows mirror these shifts, with Vietnam and Malaysia emerging as key destinations for greenfield investment as China's share declines," Moody's said.
It also said that in October 2024, the US announced preliminary countervailing duties on solar cells imported from Cambodia, Malaysia, Thailand, and Vietnam, targeted primarily at Chinese-owned companies operating in Southeast Asia.
Moody's Rating said the growing dependence on China suggests an indirect impact of tariffs on ASEAN could be significant.
The rating agency noted that ASEAN and India would need to develop greater indigenous value-added capacity to increase competitiveness. This is because the absence of stronger domestic supply chains and improvements in trade policies remain the key challenges hindering faster development of new manufacturing hubs.
𝄹 It said enhancing investment attractiveness requires improvements in infrastructure, connectivity, and liberalisation of investment and trade policies to attract foreign direct investment (FDI)./.
According to the Lao Ministry of Agriculture and Forestry, the guidelines were launched at a meeting on implementing the Policy Guidelines on Agroecology Transition and linking to green finance, held in Vientiane on March 17 - 18.
Representatives from ASEAN member states and China reviewed mining collaboration and set future priorities at the 14th Liaison Officials' Meeting of the China (Guangxi) - ASEAN Mining Cooperation Conference.
This approach is vital for protecting the region from future shocks, including abrupt policy shifts in key markets like the US and the European Union, Malaysia Global Business Forum (MGBF) founding chairman Nordin Abdullah said in a recent interview granted to the press.
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.
