Authors: Mega Valentina, Angelica Ortega, Logan Carnicelli Johor-Singapore Special Economic Zone (JS-SEZ) Agreement Establishes Key Investment Gateway for Southeast Asia On January 7, the governments of Malaysia and Singapore announced the signing of a bilateral agreement to establish a special economic zone (SEZ) in the southern Malaysian state of Johor. Plans on the Johor-Singapore SEZ were first unveiled in 2023 at the 10th Singapore-Malaysia Leaders’ Retreat and are expected to begin roll out in 2025. Through the JS-SEZ, Malaysia and Singapore will promote and…
PBEC Opinion Piece South Korea 2025Executive Summary This PBEC opinion piece on South Korea’s economic forecast for 2025 highlights the challenges posed by political instability, which may dampen growth prospects unless stability is restored. Key sectors such as manufacturing, infrastructure, technology, and renewable energy present significant opportunities for Korean businesses, particularly in international markets like China, the Philippines, Indonesia, Vietnam and Thailand. The investment climate is influenced by the need for reform and stability to attract both domestic and foreign…
In 2024, APEC embarked on a journey to Peru under the theme of “Empower, Include, Grow”. Under this theme, we shared ideas on inclusive and interconnected growth, digitalization and innovation to promote formal and global economy, and sustainable growth for resilient development. These discussions culminated in the Leaders’ declaration in Lima in late November 2024. Now, the roadshow moves across the Pacific to Korea. Korea is holding APEC for the first time in 20 years. Last time was when the APEC Economic…
Executive Summary: Regional Economic Integration Building the Free Trade Area of the Asia-Pacific. The Free Trade Area of the Asia-Pacific (FTAAP) is the best way to unlock the full potential of the region, by countering fragmentation and creating new opportunities for all. ABAC calls on APEC to build FTAAP from the top down through high-quality trade agreements and innovative recent sectoral initiatives on digital trade, sustainability and inclusion. In parallel, APEC should build FTAAP incrementally from the bottom up through…
The Asia-Pacific region faces a complex economic landscape characterized by growth potential tempered by significant risks. Forecasts project a GDP growth rate of 3.4% in 2024, with inflation expected to moderate to around 2.3%, but challenges such as geopolitical tensions, climate change, global supply chain vulnerabilities, and ageing populations present substantial risks. These risks are exacerbated by factors such as protectionism, trade conflicts, and the increased frequency of natural disasters affecting economic stability and productivity. Survey insights reveal a region…
Abstract: The State of Southeast Asia 2024 Survey conducted by the ASEAN Studies Centre at ISEAS – Yusof Ishak Institute reveals that Southeast Asia’s top preoccupations are with unemployment, climate change, and intensifying economic tensions between major powers. The Israel-Hamas conflict is the region’s top geopolitical concern, while China has edged past the US to become the prevailing choice if the region were forced to align itself in the ongoing US-China rivalry. Click here to download the PDF file of…
From China’s slowing growth to Malaysia and Singapore’s electronics-driven resilience – a new ICAEW report analyses how South-East Asia’s economies are shaping up for 2025. While China grapples with structural challenges, Malaysia and Singapore look set to benefit from global electronics demand, but face pressures from inflation, fiscal tightening and cautious consumer behaviour. That’s the conclusion of the ICAEW Economic Insight Report Q4 2024, which paints a mixed picture for the region. Prepared by Oxford Economics and supported by PBEC,…
A useful reminder for business leaders of the possible directions Data Governance & efforts to bolster cyber security in APAC could be taken by national Govts and regional blocs in 2025. In particular what the conclusion of the ASEAN Digital Economy Framework Agreement (DEFA) talks might look like. More engagement with multiple industry leaders linked to above areas like use of AI, Web3, crypto in healthcare, education, critical infrastructure and providing policy recommendations and feedback to Govt’s will continue to…
AUSTRALIAN MINISTER JETS TO EUROPE: Agriculture Minister Collins is in Europe this week to advance a range of agricultural trade issues. She will discuss UK beef market access conditions and EU policies in London and Brussels respectively and attend the Global Forum for Food & Agriculture in Berlin. CHINA TARGETS BEEF IMPORTS: China may implement new duties on imported beef. It follows the launch of a safeguard inquiry following complaints by local producers over rising import volumes. China’s largest imported…
Release Date: 31 Dec 2024. By Michael Walsh, Executive Director As 2024 draws to a close, I have spent time during the holidays researching the latest public posts, trend analyses, and utilizing AI tools to assess the global economy emerging markets and the performance of their ETF’s (Exchange Traded Funds). The data indicates that several regions are positioning themselves as future economic powerhouses. These insights examine the potential of India, Southeast Asia, Mexico, the Middle East, and Africa, highlighting potential…