The asia pacific economic cooperation

Bangkok (VNA) - The Thai government is preparing to introduce a fresh economic stimulus package after the second largest economy in Southeast Asia recorded a five-year low in growth last year and faces a possible contraction in the first quarter of this year. Finance Minister Uttama Savanayana, on a trade delegation to Japan, said the ministry is preparing a new round of economic stimulus covering tourism, consumption and investment to be proposed for the cabinet's approval by the middle of March for implementation in April, the Bangkok Post reported. The tourism sector employs millions and has been ravaged by the outbreak of the acute respiratory disease caused by the novel coronavirus (COVID-19), he said. Tourism spending needs to continue, particularly through the Taste, Shop, Spend scheme, to entice people to travel more in Thailand, he said, adding the fourth phase of the Taste, Shop, Spend scheme needs to be potent enough to lure consumers to spend more while travelling. … [Read more...] about Thailand to launch new economic stimulus package

The bank is also facing the impact of the coronavirus, the UK's protracted withdrawal from the European Union and historically low interest rates around the world. It will be the UK-based bank's third overhaul in a decade as it attempts to lift its profits. … [Read more...] about HSBC signals mass job cuts as profits plunge

The project has been deployed in five countries, including Bangladesh, Cambodia, Fiji, Nepal, and Samoa. In Vietnam, the project will last for four years from 2020 to 2023 with the three major components of building policies and a legal framework; enhancing women businesses' approaching and using financial services; applying technological solutions at women's business. … [Read more...] about UNESCAP and MPI launch women’s entrepreneurship programme

Hanoi (VNA) – The recently ratified EU-Vietnam Free Trade Agreement (EVFTA) is likely to accelerate trade between Vietnam and Poland, according to International Business Times. The newspaper quoted Piotr Harasimowicz, Chief Representative Officer of the Polish Investment and Trade Agency in Ho Chi Minh City, as saying that Vietnam is one of the most promising markets for Polish companies in Southeast Asia. The official said latest data from the agency showed bilateral trade between the two countries surpassed 3 billion USD in 2019. The key sectors of cooperation are agri-food, pharmaceuticals, cosmetics, green technologies and wastewater treatment. Potential areas were software/IT, heavy industries such as mining, shipbuilding, machinery and equipment for agricultural production, and food processing. Vietnam mainly exports electronics and equipment, footwear, textiles and agricultural goods such as coffee, pepper, coconut and cashews, he added. Harasimowicz said … [Read more...] about EVFTA may boost Vietnam-Poland trade ties

Ha Duy Tung, deputy head of the Department of International Co-operation Tariff cuts mean reduced collections from export-import activities, from there having adverse impacts on the budget. Why did you say the EU-Vietnam Free Trade Agreement (EVFTA) would have a positive impact on budgetary contributions? With common FTAs, import tariff cuts range from 87 to 92 per cent, except the ASEAN Trade in Goods Agreement (ATIGA) that allows cutting 98 per cent of tax lines by the end of the implementation roadmap (2018). … [Read more...] about EVFTA to have active impacts on budget revenue