Southeast Asia’s trade performance may improve by at least 3 percent this year as the region expands trade with big economies such as China, the chief economist of the World Trade Organization (WTO) said.
SOUTHEAST Asia’s trade performance may improve by at least 3 percent this year as the region expands trade with big economies such as China, the chief economist of the World Trade Organization said.
Ossa explained that the trade performance of Asean countries “tend to be close but slightly higher” than the overall trade performance of Asia. It was also the same trend in terms of imports as Asean’s average import growth was at 4.7 percent during the same period compared to Asia’s 3.7-percent growth rate.
Ossa emphasized that recent Asean trends show the region’s declining rate of intra-regional trade in recent years. Part of the reason for the decline was attributed to Asean’s growing trade with China, Europe and North America, according to Ossa.
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