(Malaysia) – On July 15, the US-ASEAN Business Council (the Council), in partnership with the Ministry of Entrepreneur Development and Cooperatives of Malaysia, conducted a webinar for Small and Medium Enterprises (SMEs) in Malaysia. The event was part of a broader webinar series in response to the COVID-19 crisis. More than 100 owners and executives of Malaysian SMEs participated in the webinar session titled, “Enabling Digital Capabilities of Malaysian SMEs through the COVID-19 Crisis.”
On July 15, the US-ASEAN Business Council (The Council) conducted its inaugural Virtual ASEAN Workshop in preparation for the United Nations Food Systems Summit (FSS) in September. The event provided ASEAN FSS country conveners with a platform to share game-changing solutions raised in National Food Systems Dialogues and emphasized the private sector’s role in building more sustainable and equitable food systems to achieve the 2030 Sustainable Development Goals. The workshop began with opening remarks from Deputy Secretary-General for the ASEAN Economic Community Satvinder Singh, followed by keynote addresses from Acting Administrator of the U.S. Foreign Agricultural Service Daniel Whitley and Former USDA Undersecretary for Trade and Foreign Agricultural Affairs Ted McKinney. Mr.
During its National People’s Congress in early March, China was among the first signatories to ratify the Regional Comprehensive Economic Partnership (RCEP). The Chinese government encouraged other signatories to swiftly ratify the groundbreaking agreement that ties 15 Asia-region economies to enable trade and integration. In all, RCEP stands to eliminate as much as 90 percent of tariffs over 20 years between its members that account for nearly 30 percent of world GDP.
The agreement will enter into force once at least six ASEAN and three non-ASEAN signatories undergo their respective ratification processes. The target date for launching RCEP is the start of 2022.
The electronics industry is one where RCEP stands to make a meaningful impact. In most cases, trade in consumer electronics is already tariff-free thanks to the World Trade Organization’s Information Technology Agreement (ITA), enacted in 1996 and updated in 2015.
IT IS too early to assume that the Regional Comprehensive Economic Partnership (RCEP) will not benefit the country, as the purpose of agreement is to allow bigger market access to local industry players.
Senior Minister (Economy Cluster) and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali (picture) said the RCEP, which is expected to be ratified by year end or by the first quarter of 2020, will also provide opportunities for them to be more globally competitive.
He said based on the deliberations that ran for eight years, the ministry had also engaged many stakeholders — the industries, policymakers and non-governmental organisations to ensure that Malaysia will benefit from the agreement.
“Currently, our market is very small, how do you expect the local players to expand and be more competitive if they just confine themselves to Malaysian market?
Read more: https://www.cariasean.org/news/cari-captures-issue-494-rcep-and-cptpp-ex...