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Trade Development News
- Apr 16
- 2 min
China’s FDI inflows surge at fastest rate in 13 years during first quarter, surpassing pre-pandemic
10,263 new foreign-invested companies were established in China during the first three months of the year Data from the Ministry of Commerce comes as China continues to court foreign businesses while the United States is looking to help American companies exit the Chinese market Foreign direct investment in China grew at the fastest pace in more than a decade during the first quarter of 2021, according to data released by the Ministry of Commerce on Thursday.
The news came am
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Trade Development News
- Apr 9
- 1 min
Celebrate or Commiserate? Taking stock in the world of customs and international trade
Pleased to share the PWC Asia Customs & Trade February / March 2021 issue of Trade Intelligence which includes the following highlights: · Lead Article - Celebrate or Commiserate? Taking stock in the world of customs and international trade · ASEAN signs MRA impacting automotive products · Korea-Central America FTA enters into full force · China releases draft administrative measures on approved exporters · India’s digitisation initiatives · Revocation of excise duty exemptio
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Trade Development News
- Apr 7
- 1 min
Which Asian Economies Have the Most Sustainable Trade Policies?
Fantastic insights by Visual Capitalist and Hinrich Foundation on the effects of sustainable trade across Asia: To say that Asia has benefited from international trade is an understatement. By opening its economies to the rest of the world, the region has become a leading exporter in many of today’s most important industries. Trade has also improved Asia’s quality of life, lifting over one billion people out of poverty since 1990. Without the proper controls, however, such ra
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Trade Development News
- Mar 10
- 2 min
ASIA: RCEP to bring 'explosive growth,' fierce competition among parties
The Regional Comprehensive Economic Partnership (RCEP) agreement has been ratified by China and it is hoped that other member countries can speed up their progress and finally reach the threshold of entry into force, Minister of Commerce Wang Wentao said Monday. "The sooner the agreement comes into force, the sooner the people of the member countries will benefit," Wang said on the sidelines of the annual national legislative session. The agreement signed by 15 Asia Pacific c
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Trade Development News
- Feb 26
- 1 min
Dentsu Tracking joins EU-ASEAN Business Council - Supply Chain Digitisation & Fighting Illicit Trade
Dentsu Tracking joins the EU-ASEAN Business Council to support supply chain digitisation and the fight against illicit trade with its tracking and tracing expertise. Managing Director, Philippe Castella said: "Dentsu Tracking is delighted to become a member of the EU-ASEAN Business Council. As the operator of the European Union Tobacco Tracking & Tracing System, we are a trusted partner for authorities worldwide to help implement digital supply chain control solutions based o
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Trade Development News
- Feb 18
- 1 min
Can Asean recover this year?
Prior to the pandemic, Southeast Asia had made huge advancements and was forecasted to be the fourth biggest economy by the year 2030. Unfortunately, the Covid-19 pandemic has resulted in economic devastation for Asean, arguably posing the greatest challenge since the region’s formation. However, there are positive signs that Asean can make an economic recovery in 2021. “All Asean nations are involved in the Asean Single Window Live Operation, where trade and cargo flows can
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Trade Development News
- Feb 9
- 3 min
Covid-19, e-commerce fuel illicit trade in Asean: EU-Asean Business Council
SMUGGLED wildlife, cigarettes, counterfeit medicines, substandard personal protective equipment (PPE), and even children's toys that bypass safety checks are among the worrisome goods traded in South-east Asia's illicit markets. The region's counterfeit goods market, excluding fraudulent medicines, is worth around US$35.9 billion annually, according to a 2019 report by the United Nations Office on Drugs and Crime (UNODC). It also costs governments further billions in tax reve
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Trade Development News
- Jan 21
- 3 min
OCO Global & KW Group announce Asia FDI, Trade & Investment partnership based in Malaysia
Leading specialist trade and investment advisory firm OCO Global is further expanding its presence across Asia with the appointment of KW Group, as Associate Regional Partner based in Kuala Lumpur, Malaysia. The new partnership will enhance OCO Global’s presence across the Asia Pacific (APAC) region, supporting existing operations in China, South Korea and Japan, while boosting OCO Global’s footprint across Asia Pacific, including Australia and New Zealand. Joachim Arnold, Ch
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Trade Development News
- Jan 21
- 2 min
China FDI rose to record level in 2020 despite coronavirus, fastest growth rate in five years
Foreign direct investment (FDI) into China rose 4.5 per cent from 2019 to US$144.37 billion last year Investment from the Netherlands and Britain increased by 47.6 per cent and 30.7 per cent, respectively, from a year earlier Foreign direct investment (FDI) into China rose to a record high in 2020 by posing the fastest growth rate in five years despite the disruptions caused by the coronavirus pandemic.
FDI in US dollar terms – excluding financial sectors such as banking, sec
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Trade Development News
- Jan 21
- 1 min
Cambodia To Implement Data Automation Between Tax & Customs Authorities
System will strengthen tax and customs cooperation, enabling instantly the sharing and exchange of data and information, including corporate tax registration, corporate import and export declaration documents, sales and purchase records, as well as other related documents. The introduction of the data automation system represents Cambodia’s optimisation of new technology to strengthen inter-institutional cooperation. Under the automated exchange system, the two tax authoritie
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Trade Development News
- Jan 14
- 2 min
ASEAN ahead of EU & US as China's largest trading partner in 2020
ASEAN countries have jumped to be the number one trading bloc with China in 2020, with the trade volumes hitting 4.74 trillion yuan ($731.9 billion), a 7 percent growth year-on-year, Chinese Customs spokesman Li Kuiwen told a press conference on Thursday, making ASEAN China's largest trading partner for the first time and making China ASEAN's largest trading partner for 12 years in a row. With the demonstration the huge potential and strong resilience of China-ASEAN cooperati
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Trade Development News
- Dec 31, 2020
- 2 min
FDI Trends & Outlook In Asia & The Pacific 2020/2021, UNESCAP
The investment landscape in Asia and the Pacific has become increasingly uncertain and tied to the unfolding of current global and regional political economic risks, such as increased trade tensions, the retreat of multilateralism, and health risks resulting from the COVID-19 pandemic. Together, these risks have disrupted global foreign direct investment (FDI) flows to, from and within Asia and the Pacific. HIGHLIGHTS • Globally, both FDI inflows and outflows started to recov
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Trade Development News
- Dec 9, 2020
- 2 min
RCEP: The Future of Trade in Asia
INSIGHTS: Trans-Pacific View author Mercy Kuo regularly engages subject-matter experts, policy practitioners and strategic thinkers across the globe for their diverse insights into U.S. Asia policy. This conversation with Dr. Peter Petri – Carl J. Shapiro professor of international finance in the Brandeis International Business School; non-resident senior fellow at the Brookings Institution and its John L. Thornton China Center; and co-editor of “Toward Northeast Asian Integ
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Trade Development News
- Dec 3, 2020
- 2 min
ASEAN and EU's new online Customs Transit System set to boost trade in the ASEAN region
The private sector in ASEAN now has access to a powerful new online system, the ASEAN Customs Transit System (ACTS), which will reduce intra-ASEAN trading challenges and enable companies to benefit fully from the ASEAN Economic Community (AEC) and the free movement of goods across the ASEAN region. In 2017, ASEAN Economic Ministers set the twin goals of reducing trade transaction costs by 10% by 2020 and doubling intra-ASEAN trade between 2017 and 2025. To realise this goal,
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Trade Development News
- Nov 24, 2020
- 2 min
Why China Is Creating a New Asia-Pacific Trade Pact: QuickTake
First President Donald Trump withdrew the U.S. from a 12-nation, pan-Pacific trade deal known as the TPP. Then Prime Minister Narendra Modi pulled India out of another regional grouping led by China known as the RCEP. In both cases, protectionism played a part; in both cases, the show went on without them. With the 15-country RCEP deal now signed, the question is what the impact will be on American and Chinese efforts to boost their clout -- and business -- across Asia. 1. Wh
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Trade Development News
- Nov 24, 2020
- 3 min
New Asian trade bloc could help boost post-pandemic investment - UNCTAD
The Regional Comprehensive Economic Partnership agreement comes at a time of major upheaval caused by COVID-19 and could help revive economic growth. A new mega Asia-Pacific trade bloc has the potential to help fuel investment in the wake of the COVID-19 crisis, especially in poorer economies in the region, according to an UNCTAD report. Signed on 15 November, the Regional Comprehensive Economic Partnership agreement (RCEP) unites 15 countries, including China, Japan, Austral
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Trade Development News
- Nov 12, 2020
- 2 min
CBP and Singapore Customs Sign Historic Letter of Intent to Explore Single Window Connectivity
U.S. Customs and Border Protection (CBP) and Singapore Customs signed a historic letter of intent today that will enable closer cooperation in the areas of trade facilitation, revenue protection and risk management. Executive Assistant Commissioner for the Office of Trade Brenda Smith signed the letter of intent in Washington, DC on behalf of CBP and Deputy Director-General Lim Teck Leong signed the letter of intent in Singapore on behalf of Singapore Customs. The Letter of I
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Trade Development News
- Nov 12, 2020
- 2 min
China and 14 other nations ready to sign RCEP, world’s largest trade deal
The Regional Comprehensive Economic Partnership is expected to be signed this weekend during video meetings hosted by Asean In the absence of the US from trading blocs, China seeks opportunities to write regional trade rules, say observers China is expected to sign a mega regional trade deal with 14 other countries in the Asia-Pacific region this weekend, wrapping up a major agreement before the next United States administration comes into office, Chinese officials said on We
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Trade Development News
- Nov 4, 2020
- 2 min
Six Asean countries implement Asean Customs Transit System
The Asean Customs Transit System (ACTS) will be implemented in Cambodia, Laos, Malaysia, Singapore, Thailand and Vietnam. ACTS enables goods to be transported by road under a single regime, regardless of which Asean member state they depart, transit and arrive at, although it is subject existing border measures imposed by respective countries during the Covid-19 pandemic. BUSINESSES can look forward to time savings, cost reduction and better connectivity in moving goods by la
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