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Brunei economic growth forecast at 2.6pc in 2025, 2026: AMRO

BANDAR SERI BEGAWAN, Brunei (Bernama-Xinhua) – Brunei’s economic growth is forecast at 2.6 per cent in both 2025 and 2026, according to the ASEAN+3 Macroeconomic Research Office (AMRO), reported Xinhua.
 
The AMRO’s regional economic outlook published last week said Brunei’s economy experienced broad-based growth marking its strongest expansion in decades whereby real gross domestic product expanded by 4.2 per cent in 2024.

Activities in the upstream oil and gas sector recovered strongly, benefiting from the accelerated production from newly developed oil wells which came on stream earlier than expected in October 2023, the report said.
 
The completion of major post-pandemic rejuvenation works further supported growth in the sector, it added. Similarly, in the non-oil and gas sector, growth was driven by downstream activities, and continued expansion of the services sector.
 
The report also said structural transformation to achieve a more diversified inclusive economic structure remains a key long term challenge.

Source: Borneo Bulletin

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France-Brunei trade sees strong growth in 2024

France emerged as Brunei Darussalam’s 28th largest global supplier in 2024, with exports reaching EUR13.8 million – more than double the amount recorded in 2023, representing an increase of over 106 per cent. The growth was primarily driven by strong performances in wood products (26 per cent), industrial and agricultural machinery (22 per cent), and electronics (11 per cent).

On the other hand, Brunei’s exports to France amounted to EUR929, with agri-food products accounting for 55 per cent of total imports. France ranked Brunei as its 199th largest global supplier and the smallest in the region, below Laos. The import increase was supported by rising demand for agricultural goods and textiles.

The trade figures were shared by Financial Counsellor for ASEAN member countries at the Embassy of France in Singapore Raphael Badr during a talk titled ‘Dialogue: ASEAN…Brunei…France: Looping Brunei In’ hosted by the French Bruneian Business Association (FBBA) yesterday at Baiduri Community Centre. Honorary President of FBBA Musa bin Haji Adnin; President of FBBA Pierre Imhof; Ambassador of France to Brunei Darussalam and Patron of FBBA Eve Lubin; executive committee members; and guests were present at the event.

Source: Borneo Bulletin

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ASEAN Tariff Finder a free resource for exporters on trade info across 160 countries

Filipino MSME exporters eyeing making inroads in the Southeast Asian market and its trade partners have a handy tool at their disposal with the ASEAN Tariff Finder, a free online platform that provides detailed information on customs and trade in the region.

The tariff finder is a valuable resource for empowering micro, small and medium enterprises (MSMEs) in particular, as MSMEs can save time and resources in their transactions since all needed trade-related information is readily available on the website.

This includes information on customs and trade regulations, rules of origin, market access requirements, Harmonized System (HS)-based product codes, taxes and duties, and import formalities.

The online portal is designed to enable enterprises to maximize the benefits from concluded or upgraded free trade agreements (FTAs), including the ASEAN Trade in Goods Agreement, ASEAN+1 FTAs, Regional Comprehensive Economic Partnership, and bilateral FTAs concluded by ASEAN member states. The ASEAN Tariff Finder can support users who wish to explore the markets and import requirements for their products in more than 160 destination countries.

Using the ASEAN Tariff Finder, traders can simply enter the country of origin, the destination, and the product of interest. Immediately, they have the commodity code and insights into tariffs, rules of origin, and customs and trade regulations for destination countries.

According to the ASEAN Secretariat, all nomenclatures in the ASEAN Tariff Finder are available in English and reflect the currently applied customs tariffs. The user may use HS product codes, keywords, free texts or the nomenclature tree view to find trade-related information.

The ASEAN Tariff Finder offers information on the Most Favoured Nation (MFN) duty rates, tariff quotas and suspensions, preferential duty rates for goods originating in the ASEAN member states, as well as additional duties levied upon importation. Furthermore, it provides information on turnover taxes such as value added Tax (VAT) or sales taxes, excise duties, or other taxes and charges levied before goods are released.

All country datasets contain a detailed country overview; general requirements relevant for all products; specific requirements for certain products; identification of documents required for customs clearance and market access; and detailed descriptions of the measures with translation of possible forms from the original language into English.

The ASEAN Tariff Finder was launched on August 19, 2023 on the sidelines of the ASEAN Economic Ministers’ Meeting-ASEAN Business Advisory Council Consultation.

To utilize the finder, the company must register to receive an email with a link with which to activate the registration. Once registered, the user can start searching for goods and obtaining trade-related information.

Access to the tool is free of charge for all businesses located within the region. Registration may be done at tariff-finder.asean.org.

Meanwhile, the ASEAN Secretariat is seeking feedback on the platform’s effectiveness in order to guide decisions on the tool’s future development. To participate, click https://forms.gle/6NiJ79p2tCrq1E638. The survey will be open until April 26, 2025.

March 28, 2025
Photo: Canva

Smartest move ASEAN should make amid tariff wars: expert

Amidst punitive US tariffs, ASEAN economies must refrain from reciprocating and retaliating after the Trump administration imposed a minimum 10% tariff on all countries exporting to the United States.

Venkatachalam Anbumozhi, senior research fellow at the Economic Research Institute for ASEAN and East Asia (ERIA), in a recent article said Asia, particularly ASEAN, should not join the tariff wars but should focus instead on meaningful domestic reform, strengthening regional cooperation, and investing in resilient supply chains. 

At first glance, imposing tariffs may seem like an effective and patriotic way to protect domestic industries and jobs, admitted Venkatachalam.

“But in reality, such protection often leads to complacency. Industries shielded by tariffs lose incentives to innovate and adapt. Worse still, tariffs almost inevitably provoke retaliation, escalating into trade wars that hurt everyone. Artificially inflated prices due to import duties prop up inefficiency. Eventually, consumer demand declines, markets shrink, businesses fail, and jobs are lost on all sides,” he warned.

In a bold attempt to reassert American economic dominance, US President Donald Trump announced a new wave of punitive tariffs on imports from virtually all trading partners. Under this plan, China faces a 54% tariff, followed by Cambodia (49%), Vietnam (46%), Myanmar (45%), Sri Lanka (44%), Bangladesh (37%), Thailand (36%), Indonesia and Taiwan (32%), India (29%), South Korea (25%), and Japan and Malaysia (24%).

The Philippines’ rate is set at a lower 17% while only Singapore faces a baseline 10% tariff rate.

The higher tariffs, announced on April 2, 2025 via Trump’s Truth Social account, took effect on April 9.

Venkatachalam observed how many governments have instinctively responded with reciprocal tariffs, including China, the EU, Canada, and Mexico, but said retaliation may not be the best or only viable response.

While the impulse to retaliate is natural and sometimes politically necessary, it may not be the smartest move, especially for economies deeply integrated into global supply chains, he pointed out, adding that mutual escalation might only deepen economic harm.

“This is not to say that countries like Cambodia or Vietnam are powerless vis-a-vis the US. They have other tools beyond trade policy. For example, governments could tax the profits of US multinationals or introduce environmental levies on new US investments that fail to meet ESG (Environmental, Social, and Governance) standards. Such strategies not only deter poor investment practices but also generate domestic revenue and promote sustainable development,” the economist continued.
 
“Still, not every country can shield itself from the fallout. Given the heavy concentration of global supply chains in Asia—particularly in electronics and automobiles—disruptions are likely to have a significant impact across ASEAN and East Asia. That said, tariffs disproportionately affect small businesses and consumers more than they do governments or large firms. So, retaliatory trade policies are not always the optimal response.”

Venkatachalam proposed remaining calm and focusing on strengthening regional integration and economic resilience “since the vast majority of global trade—87%—does not depend on the US.”

“Rather than entering into a tariff war, ASEAN and Asian economies should prioritise reducing internal barriers to trade, enhancing regional cooperation, and investing in building resilient supply chains,” he said. “The COVID-19 pandemic proved that Asian firms adapt quickly to shocks—often faster than governments. Now is the time to deepen ASEAN and East Asian economic integration—not only in goods but also in services and digital trade.”

The researcher urged policymakers to “focus less on retaliation and more on reforms that improve the business environment, logistics, and cross-border infrastructure.”

Governments should support next-generation reforms—such as supply chain resilience, green logistics, and digital public infrastructure—while companies must rethink their strategies to become more agile and sustainable. Embracing low-carbon, circular models of production can not only reduce manufacturing costs but also open new market opportunities, he stated.

“In the face of US protectionism, ASEAN and Asia must keep their cool. The US is now a prisoner of its own policies. A global trade war in the 1930s intensified the Great Depression, and history need not repeat itself. Investor confidence is fragile, and the best way forward is steady, sensible reform—not retaliation,” Venkatachalam said.

He called on Asian economies to stay calm as a way to avoid the worst of the damage. “The burden of these tariffs will fall most heavily on the US economy. For everyone else, the smartest move is to carry on with meaningful domestic reform, strengthen regional ties, and let the numbers speak for themselves.

PHILEXPORT News and Features
April 16, 2025
Photo: Canva

Scaling-up investments to accelerate transition to carbon-free energy in APEC

Governments and private sector players of the Asia-Pacific Economic Cooperation (APEC) member-economies must scale up investments to speed up the transition to carbon-free energy, as carbon emissions in the region are still growing despite the rise in the use of clean energy.  

“Energy demand is increasing faster than renewables can replace fossil fuels. Power generation from carbon-emitting sources is still expanding, which means emissions will keep rising unless the transition to carbon-free energy is accelerated at an even greater pace,” according to a news alert from APEC.

To hasten the shift to carbon-free energy as the world faces rising global temperatures and extreme weather events, it underscored the need for investments in energy storage, transmission infrastructure, and emerging clean energy technologies.

This, as building solar farms, wind farms, and energy storage systems (ESS) requires significant investment while more innovation is needed to improve energy storage and carbon capture.

“From the private sector perspective, companies are struggling to balance the high costs of transitioning to carbon-free energy while remaining competitive in the market,” the news alert said.

“For example, as commercialization of new technologies requires utilizing additional safety technology, suppliers are finding it difficult to predict the demand for CFE (carbon-free energy) and to reflect the increased cost of safety in product prices,” it added.    

CFE technologies, which refer to energy sources that do not produce or remove carbon emissions during generation, include nuclear energy, renewable energy, and clean and low-carbon hydrogen and ammonia, ESS and carbon capture and storage.

This diverse mix of technologies help to stabilize power supply and reduce dependence on carbon-intensive alternatives.

Aside from scaling up investments, experts encourage APEC economies to enhance regional cooperation, support technology innovation, and strengthen public-private partnerships.

“Standardized certification systems and aligned policies on carbon-free energy are necessary for cross-border energy trade,” the news alert said. “Continued research and development in carbon capture, hydrogen fuel, and small modular nuclear reactors will play a vital role.”

Engaging businesses and industries in the clean energy transition will drive faster adoption and economic benefits, it added.

PHILEXPORT News and Features
April 16, 2025
Photo: Canva

Cambodian, Malaysian travellers can now make payments via QR scan

After six months of launching the first phase, the National Bank of Cambodia (NBC) and the Bank Negara Malaysia (BNM) yesterday officially launched the second phase of their cross-border payment linkage, allowing travellers to make payments by scanning QR codes using the Bakong and DuitNow applications.

The ‘Cross-border QR Payment Linkage between Malaysia and Cambodia – Phase 2’ was presided over by Chea Serey, Governor of NBC, and Dato’ Seri Abdul Rasheed Ghaffour, Governor of BNM, in Kuala Lumpur, Malaysia.

Addressing the ceremony, the BNM Governor said, “Greater financial integration within ASEAN is now becoming more of a reality. In line with Malaysia’s ASEAN chairmanship, we are pleased to advance the vision of enhanced payment connectivity within the region through the latest phase of this QR payment linkage.”

Ghaffour added that many ASEAN small businesses and individuals are set to reap the benefits of instant cross-border QR payments. We will continue to widen our reach with regional and international partners to foster an inclusive and safe payment connectivity network.

Serey highlighted that this advancement not only simplifies cross-border payment transactions but also unlocks immense potential for mutual benefits.

Firstly, it enhances the tourism sector by providing Malaysian travelers with seamless payment options while visiting Cambodia.

Secondly, promote financial inclusion by connecting small and medium-sized enterprises (SMEs) and individuals to a wider economic network.

Thirdly, it also contributes to regional integration by furthering ASEAN’s vision of a digitally interconnected community.

For full article, please read here
Source: Khmer Times 

Programs reshaping behavior pushed to cut plastic consumption in ASEAN

The Philippines and its peers in the Association of Southeast Asian Nations (ASEAN) need to design and implement more initiatives that will shift people’s behavior toward reducing plastic consumption as global plastic pollution reaches alarming levels, according to a new report from the Economic Research Institute for ASEAN and East Asia (ERIA).

The document entitled “ASEAN Conference on Combating Plastic Pollution 2024” noted how ASEAN member states have reaffirmed their commitment to reduce plastic pollution in the region by endorsing the ASEAN Declaration on Plastic Circularity in October 2024.

This landmark document emphasizes a full life-cycle approach to addressing plastic pollution and advocates for comprehensive interventions such as circular product design, reuse systems, and environmentally sound plastic waste management.

According to the ERIA paper, since plastic pollution is not only a material issue but a behavioral issue as well, approaches targeting behavior may be used with the aim to influence people to reduce their single-use plastic (SUP) consumption in exchange for behaviors that promote a sustainable and circular use of plastics.

“The hope is that the once the desired behaviour is achieved, it can be sustained beyond the duration of the behavioural change initiative,” said the report released this month.

It recommends several recommended strategies to achieve informed behavioral change, including the following:
 
  • Understand the context. When designing a behavioral change initiative, it is important to understand the socioeconomic, environmental, and cultural contexts of the target community to ensure that the initiative is appropriate and effective in encouraging the desired behavior.
  • Combine different behavioral levers, including a mix of traditional and modern interventions, to inculcate the desired behavior. Traditional behavior change levers can include implementing a ban on plastic bags and imposing a fee for plastic shopping bags in supermarkets, while new intervention levers can cover not automatically providing plastic straws in restaurants and promoting bringing tumblers and water bottles as a cool trend instead of using SUP cups and bottles.
  • Partner with local stakeholders. Community stakeholders should be involved throughout the entire initiative. Furthermore, working with local stakeholders also helps with understanding the context, identifying what is important and feasible for the communities, as well as creating a sense of ownership within the communities.
  • Involve local champions. Religious leaders, government officials, the youth and other local champions can help build a stronger relationship within the community and further encourage the adoption of the desired behavior past the period of the behavioral change initiative.
  • Integrate the desired behavior into local rules, regulations, or legislation. This can be one of the levers of the behavioral change intervention which can help sustain the desired behavior beyond the period of the initiative, hopefully creating a longer-lasting impact in the communities.
  • Utilize multiple indicators to measure the impacts of the initiatives. This helps to create a deeper and more comprehensive understanding of the extent of the behavior change, which can inform future initiatives.
  • Pay attention to the unexpected behaviors. Instances when people do not make decisions as expected should be taken note of and the insights could be incorporated in redesigning existing or designing new behavioral change interventions.
According to the report, demand for materials that improve the quality of life such as plastics continues to increase as the global economy expands. More than 460 million metric tonnes (MMT) of plastics are produced each year, with an estimated 20 MMT of plastic litter polluting ecosystems and posing detrimental threats to biodiversity, public health, livelihoods and economies.

Alarmingly, these figures are projected to double by 2040, which underscores the urgent need for transformative actions to reduce plastic pollution, ERIA said. 

PHILEXPORT News and Features
March 21, 2025
Photo: Canva

Higher tariffs can create opportunities for some developing countries: report

Higher tariffs are expected to have significant economic costs but these may also create opportunities for some developing countries as major trading partners realign their supply chains and forge new trade relationships, according to the United Nations flagship report.

The World Economic Situation and Prospects: March 2025 Briefing said a breakdown by product category provides insight into which countries may benefit from supplying substitutes for tariff-affected goods should United States tariffs continue to target bilateral trade deficits.

It said among high-tech products, China remains a major supplier of electronics and machinery to the US, while the European Union remains a key source of pharmaceutical and machinery imports.

Citing earlier study, the UN report said several East Asian economies, such as Malaysia and Singapore, are emerging as specialized component producers in consumer electronics.   

However, outside of East Asia and Mexico, most developing countries lack the industrial capacity and supply chain integration needed to replace major high-tech suppliers, it said.

“By contrast, a realignment of supply chains in more labor-intensive low- and mid-tech industries could create new opportunities for a broader set of developing countries. East Asia is well-positioned to benefit, but other regions could also gain if the United States shifts away from its main trading partners China, Canada, Mexico, and the European Union,” it added.

The report said Vietnam and Indonesia could emerge as alternative suppliers of toys to the United States which remains heavily dependent on China, while other countries have strengthened their market positions in apparel.    

PHILEXPORT News and Features
March 21, 2025
Photo: Canva

Lao Digital Week 2025

On Wednesday, the Ministry of Technology and Communications launched Lao Digital Week 2025, which will take place from April 2-6 at the National Convention Centre in Vientiane. Taking the theme “Building Resilience and Sustainable Digital Infrastructure for Laos”, the event aims to foster digital transformation, promote a digital economy, and advance technological innovation across all sectors. The launch was attended by President Thongloun Sisoulith and Thai Deputy Prime Minister and Minister of Digital Economy and Society Prasert Chantararuangthong. Attendees included officials from ministries and other government bodies, representatives of international organizations and businesses, and members of the public. Speaking at the opening ceremony, Minister of Technology and Communications, Prof Dr Boviengkham Vongdara said this year’s Lao Digital Week also commemorates three important national events, namely the 70th anniversary of the Lao People’s Revolutionary Party, the 50th anniversary of the establishment of the Lao PDR, and the 105th anniversary of the birth of President Kaysone Phomvihane.
“In an era where technology is rapidly driving our world, digital transformation is not an option but a critical necessity for the socio-economic development of Laos,” he added.
The government has defined a national digital transformation strategy based on three main pillars: digital government, digital economy, and digital society.
Advances in digitalization will be pursued through the 20-year national digital economy development vision (2021-2040) and the 10-year national digital economy development strategy (2021-2030), Mr Boviengkham said.
Lao Digital Week serves as a platform to showcase and select outstanding Lao ICT and digital products for international competitions, such as the ASEAN ICT Award 2025. read

cr Vientiane Times
(Latest Update April 3, 2025)

Cambodia’s First Infrastructure Bond by SchneiTec Raises $50M

Solar power developer SchneiTec Dynamic Co Ltd, which operates a 60 megawatt solar project in Kampong Chhnang, has issued a $50 million sustainable bond to fund the expansion of its infrastructure.

 

Touted as the first project bond in Cambodia, the 15-year tenured bond with an 180-day average compounded secured overnight financing rate (SOFR) will be listed on Cambodia Securities Exchange on April 10.

 

The proceeds will be used by SchneiTec Dynamic and SchneiTec Group to accelerate solar energy capacity expansion, supporting Cambodia’s transition toward energy independence and cleaner energy sources, the bond’s sole manager Yuanta Securities (Cambodia) Plc said in a statement yesterday.

 

The investment-grade bond, consisting of two-tranches - $35 million guaranteed by the Credit Guarantee and Investment Facility (coupon rate of SOFR +1.8 percent and 1.6 percent) and $15 million unguaranteed (SOFR plus average and three percent) - is considered a “landmark transaction” as it sets a new benchmark for sustainable financing in the Cambodian bond market.

 

Global investors, including life insurance companies, an overseas export credit agency, major international commercial banks, and a prominent local bank invested in the bond, Yuanta Securities said.

 

The diverse investor base reveals a growing confidence in Cambodia’s renewable energy sector, reflecting the country's potential for sustainable development, as well as the ability for such projects to raise funds via bonds beyond traditional banking methods.

 

"This project bond is more than just a financial instrument – it marks a significant milestone for both Cambodia’s bond market and the renewable energy sector," said Han Kyung Tae, CEO of Yuanta Securities.

For full article, please read here


Source: Kiri Post 

Thailand eyes EU free trade deal by year end amid US tariff risk

Thailand aims to finalize a Free Trade Agreement (FTA) with the European Union (EU) by the end of this year to strengthen economic stability amid risks of U.S. tariffs.

Key Points:
  • Negotiations between Thailand and the EU resumed in 2023 after being suspended following the 2014 coup.
  • The EU is Thailand’s fourth-largest trading partner.
  • The FTA is expected to boost Thailand’s economic resilience and enhance global competitiveness.
  • Exports account for approximately 60% of Thailand’s GDP.
Additionally, Thai business groups have urged the prime minister to negotiate with the U.S. and consider lowering tariffs on U.S. imports to mitigate potential trade risks. Thailand’s push to finalize the FTA with the EU reflects its efforts to strengthen economic security and reduce dependence on uncertain U.S. trade policies.

Read more: Click! 

Transport Ministry to upgrade Ranong Port after 200% import-export surge

The Transport Ministry has planned to improve facilities and services in Ranong Port after witnessing a 200% surge in import-export volumes. This plan meets the government’s policy to promote the Southern Economic Corridor (SEC) and enhance Thai logistics to meet international standards, said Deputy Transport Minister Manaporn Charoensri.

Ranong Port which is under the Port Authority of Thailand (PAT)’s supervision, has been instructed to expand container yard areas and upgrade facilities for improved shipping services to handle an increase in shipments. This is another crucial step for Ranong Port to enhance its logistics services, making them more efficient and positioning the port for further growth.

According to PAT, Ranong Port has seen an increase in imports and exports since January 2024, particularly in animal feed maize imports and cement exports. “The growth of Ranong Port reflects the expansion of the economy and the logistics industry that is linked to neighbouring countries, especially Myanmar, which is a major market for Thai exports,” said PAT director Kriengkrai Chaisiriwongsuk. Ranong Port currently operates two piers: a multi-purpose pier capable of accommodating cargo ships with a weight of up to 500 gross tonnes, and a container pier designed to handle vessels weighing up to 12,000 deadweight tonnes.

“The facility has the potential to become a maritime commercial hub on the Andaman coast,” he added.

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