December 2019
M T W T F S S
« Nov    
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
Tags
AIIB ASEAN ASEAN (R) ASEAN-ISIS Asia Beijing Big Tech CH: Hong Kong Country (R): Indonesia Country (R): Malaysia Country (R): Myanmar Country (R): Singapore Country: ASEAN Country: Australia Country: Cambodia Country: China Country: Germany Country: India Country: Indonesia Country: Japan Country: Laos Country: Malaysia Country: Myanmar Country: North Korea Country: Philippines Country: Qatar Country: Russia Country: Singapore Country: South Korea Country: Taiwan Country: Thailand Country: UK Country: United States Country: US Country: USA Country: Vietnam DE: 5G DE: Data privacy DE: Data security DE: e-Payments DE: Facebook Elections: Indonesia 2019 Elections: Thailand 2019 ESG: Climate Change ESG: Diversity ESG: Energy ESG: Green Finance ESG: Green Growth ESG: Haze ESG: Human Rights ESG: Modern Slavery ESG: Peatland ESG: Riau ESG: RSPO ESG: Smallholders ESG: Sustainability ESG: Sustainable/Green Infrastructure ESG: Water ESG: Workers Rights European Union Event: SDSWR Events: AAF Fukushima G20 Global Citizens Singapore Google Indonesia: Jokowi Institute: ERIA Institute: SIIA JP: Abenomics Leaders: Kim Jong Un Leaders: Lee Hsien Loong Megatrends: Digitisation Megatrends: New Media Megatrends: Populism MM: Aung San Suu Kyi MM: NLD MM: Rakhine State MY: GE14 MY: Mahathir Mohamad MY: Najib Razak Nicholas Fang Oh Ei Sun Region: Africa Region: Latin America Region: Middle East Reports Security: South China Sea Security: Terrorism SG: Lee Kuan Yew SG: SG Secure SG: Smart Nation SG: Society Simon Tay TH: Protests Topic (R): Belt and Road Topic (R): Business Topic (R): Digitisation Topic (R): Economy Topic (R): Green Finance Topic (R): Infrastructure Topic (R): Palm Oil Topic (R): Peatland Topic (R): Smallholders Topic (R): Sustainability Topic: Anti-Globalisation Topic: Belt and Road Topic: Business Topic: Development Topic: Digital Economy Topic: Digitisation Topic: E-Commerce Topic: Economics Topic: Economy Topic: Elections Topic: Environment Topic: ESG Topic: Finance Topic: Global Citizens Topic: Globalisation Topic: Human Trafficking Topic: Indo-Pacific Topic: Infrastructure Topic: Investment Topic: Labour Topic: Nuclear Topic: Palm Oil Topic: Race Topic: Regional Integration Topic: Religion Topic: Security Topic: Singapore-Malaysia Relations Topic: Small States Topic: SMEs Topic: Trade Trade: AEC Trade: CPTPP Trade: FTA Trade: FTAAP Trade: RCEP Trade: TPP Trade: War Trends (Digital): Cybersecurity Trends (Digital): Smart Cities UK: Brexit United States US: Obama US: Trump US: Trump WEF

3-on-3 with Denis Hew: TPP will have an positive impact on Asia

09 Jun 3-on-3 with Denis Hew: TPP will have an positive impact on Asia

The United States and China both have initiatives to expand their economic reach in Asia – the US-backed Trans-Pacific Partnership (TPP) trade agreement, and China’s One Belt, One Road and AIIB. Dr. Denis Hew, Director of the APEC Policy Support Unit tells us that Asia stands to gain from the TPP and other regional developments. We spoke to Dr. Hew as part of our 3-on-3 series – three questions in three minutes.


Q. How will the TPP impact business and investment opportunities in Southeast Asia?

A. Well, I think TPP will have tremendous impact in terms of business opportunities in the region. It’s potentially the largest FTA in the world, potential market of 800 million, in terms of total market – 40% of (world) GDP, a third of trade, it’s also considered a 21st century, next generation, free trade agreement, so it covers not just the traditional types of reduction in tariffs and also non-tariff barriers, it’s also into new generation issues such as digital trade, e-commerce, and also covers things like looking at investment protection, helping small and medium enterprises, so I think there will be a lot of opportunities.

Q. What implications will the TPP have on ASEAN’s long-term economic integration efforts?

A. As we know, ASEAN has this long-term integration, trying to create an ASEAN Economic Community, we know that the deadline is past, it’s 2015 – but it’s a long term journey, trying to create a single market. And I think TPP will play a very important role. Not just TPP, of course, we also have RCEP, which is ASEAN+6 FTA, and these two, I would call mega free trade agreements, will mutually reinforce each other to promote greater regional integration and support the ASEAN Economic Community.

Q. With American and Chinese driven projects gaining more momentum in Asia Pacific, how will such initiatives alter trade relations in the region?

A. Well, we know that global trade slowed down. There’s been a very fragile economic recovery, we know that the global trading system has been pretty slow at the WTO, so we think TPP, RCEP are very important types of free trade areas that will hopefully sort of resuscitate lots of trade and investment in the region. And of course in APEC we’ve got the Free Trade Area of the Asia Pacific, FTAAP, which of course TPP and RCEP are very important building blocks towards achieving that one day.