While analysts watch for clues about how Australia’s new government will handle relations with China, Canberra’s sights are set on deepening trade with another megamarket closer to home – Southeast Asia.

The Indo-Pacific Economic Framework for Prosperity (IPEF), an economic strategy proposed by the US, is a new attempt to revise the connection between the US and Asia-Pacific countries. As an open framework, the success of IPEF is still open to question as there are no trade provisions or potentially reduced tariffs for commercial activities. As such, the participation of Vietnam is largely dependent on the outcome of discussions and implementation.

Vietnam is set to grant a licence under the Voluntary Partnership Agreement/FAO-EU Forest Law Enforcement, Governance and Trade (FLEGT) Programme to wood exports in 2025, after it completes preparing necessary conditions, reported a government official familiar with the sector.

Talking to a delegation of business Think Tank led by Muhammad Azam Khan, Coordinator to Federal Tax Ombudsman and former Senior Vice President Lahore Chambers of Commerce and Industry (LCCI), Meher Kashif Younis said with no signs of an early end to the war in Ukraine, the risk is growing that conflict will tip a fragile global economy into recession.

Foreign investors, who are seeking to invest in industrial parks in Vietnam, are very interested in infrastructure and environmental protection. In particular, import-export companies wanted to enter eco-industrial parks.

“AIFTA was structured 10 years ago, and we are hoping it can be reviewed to enhance trade between ASEAN and India,‘’ said AIBC co-chairman, Datuk Ramesh Kodammal to Bernama in New Delhi yesterday.

Insiders are pinning high hopes on a faster growth rate of the dairy farming industry in the coming years given that both domestic and major foreign markets are witnessing growing demand for milk products.

Widely known as a fastidious market, Japan has always required the high quality of imported products in general and seafood in particular, according to insiders. During the first 5 months of the year, Vietnam's seafood exports to Japan continued to rise to US$638.91 million, accounting for 13.6% of the nation's overall export turnover.

Regarding the development of the private economic sector, Vu Tien Loc, member of the Economic Committee of the National Assembly, Chairman of the Vietnam International Arbitration Center, said that the goal of having more than 1.5 million enterprises by 2025 was completely feasible. However, besides quantity, improving the quality of this sector is important.

Vietnam and the Republic of Korea (RoK) sought ways to improve the efficiency of their partnership in investment and innovation during a conference in Ho Chi Minh City on June 17.