November 15, 2016, http://www.thestar.com.my/business/business-news/2016/11/15/hsbc-says-china-led-rcep-in-focus-as-tpp-fades/
KUALA LUMPUR: The China-led Regional Comprehensive Economic Partnership (RCEP) should help boost trade volumes across Asia, especially Asean, although it has its limitations compared with the stalled Trans-Pacific Partnership (TPP), said HSBC Bank Malaysia Bhd.
“The deal will be particularly advantageous for Asean as it will reduce the incongruity across pre-existing free trade agreements (FTAs) and thereby strengthen the appeal of the region as a production base.
“Moreover, by connecting the world’s three largest consumer markets – China, India and Asean, the RCEP offers a new ‘south-south’ template for growth that can partly offset subdued imports and investment in the West,” said its chief executive officer Mukhtar Hussain in a statement on Tuesday.
He said RCEP was important for Asean as it effectively allowed the convergence between the FTAs and should help attract foreign companies to base their production in Asean.
In addition to Asean’s outward FTAs, the region has plans for internal integration, namely through the Asean Economic Community.
It was estimated that the agreement would boost baseline gross domestic product (GDP) by 5% through 2030, thanks to a break-down in investment barriers and services liberalisation, particularly across financial services, he said.
“Upon full implementation, this new partnership could provide dynamic stimuli to revitalise trade and investment in Asia,” he added.
The RCEP includes Asean-10, in addition to China, India, Japan, Korea, Australia, and New Zealand.
As the first pan-Asia free trade deal, it boasts a list of impressive statistics such as covering roughly half of the world’s population and nearly 30% of global GDP.
Meanwhile, the TPP involving 12 countries, namely the US, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile, and Peru, accounts for 40% of the global GDP. – Bernama
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
