Export turnover of the Republic of Korea (RoK) to the ten member countries of ASEAN hit 74.52 billion USD in 2016, compared to 32.1 billion USD in 2006.
Seoul (VNA) – Exportturnover of the Republic of Korea (RoK) to the ten member countries of theAssociation of Southeast Asian Nations (ASEAN) hit 74.52 billion USDin 2016, compared to 32.1 billion USD in 2006, according to data released by the c🎶ountry’s Ministry of Trade, Industry andEnergy on May 31.
The result was attributed to increasingcommerce and investment since a free trade deal between both sides took effectin 2007, Yonhap news agency reported. The country’s exports to ASEAN countries have grown anaverage 7.5 percent annually during the last decade while its overall exports increasedonly 3.3 percent per year in the period. RoK imports from ASEAN countries also increased 3.3 percent per yearover the last ten years to reach 44.32 billion USD in 2016. Total trade between the RoK and ASEAN rose 5.7 percent every year to118.84 billion USD last year. Investment by RoK firms in Southeast Asian countries amounted to 6.4billion USD in 2016, up from 3.7 billion USD in 2006, while ASEAN members poured2.5 billion USD into the RoK last year, surging from 703 million USD in 2006. The Ministry of Trade, Industry and Energy said ASEAN became the RoK’ssecond largest trade partner in the last ten years, adding that both sides aremaking efforts to expand market openness and tariff cuts.-VNA
The foreign direct investment (FDI) of the Republic of Korea (RoK) hit 35.2 billion USD in 2016, the highest figure ever and also a jump from 23.1 billion USD recorded in 2007, according to a report released on April 24 by the Industrial Bank of Korea (IBK).
President of the Republic of Korea (RoK) Moon Jae-in has named Seoul Mayor Park Won-soon as his special envoy to the Association of Southeast Asian Nations, the presidential office said on May 19.
President of the Republic of Korea (RoK) Moon Jae-in expressed his hope to enhance the economic and diplomatic cooperation with Indonesia during a phone call with Indonesian President Joko Widodo.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
