In the face of a persistent decline in the global economic scenario from 3.5 percent in 2022 and for advanced economies 2.6 percent in 2022 to 1.5 percent in 2023, Cambodia’s economy grew by 5.5 percent in 2023 as against 5.2 percent in 2022 and inflation declined to 2.1 percent compared to 5.4 percent over the same period.

As 2023 progressed past three-quarters of its duration, it became an increasingly challenging time for textile and garment enterprises. This period was marked by a significant drop in consumer demand, leading to a decline in exports across many major markets.

In the current period, the recognition of Authorized economic operators (AEO) is an essential step that needs active implementation to fulfill commitments in facilitating maximum convenience for businesses participating deeply in global supply chains. The AEO program is established based on voluntary compliance by businesses with customs authorities to facilitate AEOs participating in global supply chains to enjoy borderless benefits.

The Chinese economy is full of vitality and there is huge potential for Sino-US cooperation in various advanced technologies, such as electric vehicles, despite geopolitical complexities and challenges, said Sevin Yeltekin, dean of the University of Rochester Simon Business School.

Vietnamese and Philippine businesses were told to take advantage of opportunities to rev up cooperation in each other’s markets, during their meeting with Vietnamese Prime Minister Pham Minh Chinh and visiting Philippine President Ferdinand Marcos Jr. in Hanoi on January 30.

In order to achieve the export growth target of 6% set for 2024, businesses are required to adhere to major markets such as the United States, the European Union, Japan, the Republic of Korea, and China, according to insiders.

The department urged enterprises exporting to Saudi Arabia to keep a close watch for market updates and comply with Halal certification requirements.

This newly established office, which further strengthens the company's global footprint, including in Southeast Asia, will offer enhanced trans-shipment solutions to its clients in Southeast Asia and the Australian peninsula, DTDC said in a statement.

Given its large population, diverse demand for goods and services, not too strict import standards, and production complementarities, the Philippines is a high potential market for Vietnamese exports, said the Trade Office of Vietnam in the archipelago nation.

Vietnam views the Philippines as one of its most important rice importers, Vietnamese Minister of Industry and Trade Nguyen Hong Dien has told visiting Secretary of the Philippine Department of Agriculture Francisco Tiu Laurel Jr