link ae888

ASEAN local currency transactions promoted

The Philippines has agreed to join the local currency settlement (LCS) framework which Indonesia, Thailand and Malaysia have operated over the past two years, in an effort to expand intra-ASEAN trade and investment as well as strengthen the regional economic integration.
ASEAN local currency transactions promoted ảnh 1Illustrative image (Source: Internet)

Jakarta (VNA)𒀰 - The Philippines has agreed to join the local currencysettlement (LCS) framework which Indonesia, Thailand and Malaysia have operatedover the past two years, in an effort to expand intra-ASEAN trade andinvestment as well as strengthen the regional economic integration.

According tothe Jakarta Post, the agreement between the central banks of the Philippines(BSP), Indonesia (BI), Malaysia (BNM), and Thailand (BOT) was signed on thesidelines of the ASEAN finance ministers and central bank governors’ meetingsin Thailand on April 5. The initiativeis part of continuous efforts to promote the wider use of local currencies tofacilitate and boost trade and investment in Southeast Asian countries. However, it isworth pointing out that promoting the use of local currencies will only work ifthe transaction costs involved in changing one local currency to another arelow enough to be worthwhile, the Jakarta Post wrote, adding that it involvessetting up direct exchange markets between various major currencies, as well asensuring that there are sufficient liquidity and turnover. Mostimportantly, an efficient currency exchange market among the four currencieshas to be developed to encourage businesses to use the LCS framework, thenewspaper said. It reportedthat the 10 ASEAN countries have been integrating more in terms of trade.Though increasing, the share of intra-regional trade remains heavily reliant onthe US dollar. It is the dominant currency not only for invoicing andsettlements in intraregional transactions, but also as the reference currencyfor exchange rate policies and a reserve currency. This is because ASEAN doesnot have a common currency such as the euro. According tothe Jakarta Post, the recent financial crises, however, have highlighted therisks of such an overdependence on the dollar, because a sudden shortage in itsliquidity can affect ASEAN economies irrespective of their creditworthiness. Inaddition, ASEAN currencies’ asymmetric response to dollar fluctuations, whichhas been observed during crisis periods in the past, can have a negative impacton production networks looking to expand in the region. The newspaperunderlined that the availability and reliability of data related to invoice andsettlement currencies in the region also need to be improved. Such datadisclosures make for good information, particularly for small and mediumenterprises, which are starting to participate in cross-border transactions. Therefore,promoting the use of local currencies can be a first step in enhancing the roleof ASEAN currencies and in reducing the risks of overreliance on the dollar,the Jakarta Post said.-VNA
VNA

See more

A workshop on Vietnam’s development in economy, politics, society, environment, and agriculture over the past year is held on August 8 at the Crawford School of Public Policy under the Australian National University (ANU). (Photo: VNA)

🔜 Australian workshop discusses Vietnam’s transformation, development

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).
Thailand to escalate measures to counter fake news. (Photo: nationthailand.com)

Thailand tightens control over fake news

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).
MyFintech Week 2025 takes place in Malaysia from August 4 - 7, gathering nearly 1,000 industry leaders, regulators and innovators to explore the future of finance and technology. (Photo: antaranews.com)

💙 Banks, fintech players strengthen presence in ASEAN

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.
Delegates cut the ribbon to inaugurate the ASEAN Hall in Seoul (Photo: VNA)

ASEAN Hall inaugurated in Seoul

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.
Rice displayed for sale at a supermarket in Bangkok, Thailand. (Photo: AFP/VNA)

Thailand promotes rice exports to key markets

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.
Thai Finance Minister Pichai Chunhavajira (//www.nationthailand.com/)

﷽ Thailand unveils 6-point plan to boost innovation among businesses

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 speaks at the event celebrating ASEAN's 58th founding anniversary. (Photo: VNA)

ASEAN’s founding anniversary marked in Israel

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.
Thai prosecutors indict 23 over deadly building collapse

ও Thai prosecutors indict 23 over deadly building collapse

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 seeks to prevent 70% of waste from entering sea by 2029

✤ Indonesia seeks to prevent 70% of waste from entering sea by 2029

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.
Malaysia boosts investment in innovation

Malaysia boosts investment in innovation

Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
{dagathomo tructiep hôm nay}|{link ae888 city 165}|{dá gà thomo}|{trực tiếp đá gà thomo hom nay}|{sbobet asian handicap}|