The massive Regional Comprehensive Economic Partnership presents a major trade opportunity for Asia but there are still critical details that need to be worked out.
As the pandemic continues to affect global trade, governments need to take measures now to be better prepared for future disruptions.
With the right policies and investments, Bangladesh can become a trade and transport hub in South Asia.
Greater transparency is required to make global trade and supply chains more reliable and to ensure sustainability and social standards are met. But that is easier said than done.
These charts illustrate the strong momentum of Asia’s trade growth during 2021, showing its resilience amid continuing uncertainties around the pandemic and a potential slowdown in the pace of global economic recovery.
A range of factors have helped Asia’s supply chains weather the pandemic better than those in other parts of the world. Vigilance is needed to maintain these vital trade links.
Business-friendly policies, and the transition to greater use of e-commerce and on-demand production, are key to helping Asia’s small and medium-sized fashion companies bounce back from the pandemic.
With mega trade deals and digitalization, we need to rethink aid for trade with more focus on policy and regulatory support.
Asia’s industries, primarily manufacturing, fueled phenomenal economic growth and poverty reduction in recent decades. But today many countries are looking to the service sector as an alternative.
The rise of trade distorting measures adopted unilaterally by countries signals the need for reform of World Trade Organization rules and procedures.