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Asean Morning News

Compiled by AEC News Today    @aecnewstoday

U.S. and Pacific Rim countries at odds in heated trade meeting
Japan and other members of the Trans-Pacific Partnership agreed on Sunday to pursue their trade deal without the United States as the Trump administration’s “America First” policy created tension at a meeting of Asia-Pacific countries.
– Reuters

Myanmar’s trade with ASEAN member countries reaches 9.6 bln USD
Myanmar’s trade with member countries of the Association of Southeast Asian Nations (ASEAN) hit 9.6 billion US dollars in the last fiscal year 2016-17 which ended in March, according to the latest official figures released on Monday.
– Global Times

Pacific Rim nations fight to save TPP trade pact
Asia-Pacific trade ministers agreed Sunday to try to revive a massive free trade pact, even though the US reaffirmed its decision to pull out, as fears grow of a new global era of protectionism.
– The Nation

Asean members close ranks vs terror
Top military officials of the Association of Southeast Asian Nations (Asean) vowed to work together to fight terrorism that threatens the region’s peace and security, the Armed Forces of the Philippines (AFP) said on Sunday.
– The Manila Times

Belt and Road expected to propel Southeast Asia tech sector
In response to the Belt and Road Initiative, technology and funds from China will help Southeast Asia develop its own mobile internet sector, said Liew Weihan, CEO of Mainspring Technology Ltd, an online media company based in Jakarta, Indonesia.
– China Daily

APEC Vietnam 2017: Negotiations continue on regional free trade agreements
The annual APEC trade ministers meeting is in its last day in Hanoi, Vietnam, but there are still a lot of issues remaining for discussion at the next gathering of high-level officials from the Asia-Pacific region.
– NBT World (VDO)

APEC Nations Reiterate Opposition to All Forms of Protectionism
The meeting of trade ministers from member countries of the Asia Pacific Economic Cooperation (APEC) held in Hanoi over the weekend concluded Sunday with a strong pledge against protectionism.
– Latin American Herald Tribune

Future Of ASEAN Relies On Its Younger Generation – Khairy
When Indonesia, Malaysia, the Philippines, Singapore and Thailand established ASEAN 50 years ago, they aimed to establish greater political stability in the region.
– Malaysian Digest

Trade to level the playing field
Cambodia and Asean occupy an increasingly important location at the crossroads of global trade routes. The Post’s Matthieu de Gaudemar spoke with Arancha González, executive director of the International Trade Center, on the sidelines of the recent World Economic Forum on Asean summit to discuss global trade uncertainty and its impact on the region.
– The Phnom Penh Post

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Cambodia Morning News

US Judge Dismisses Lawsuit Against Cambodian Government
A U.S. lawsuit accusing the Cambodian government of the wrongful imprisonment of a CNRP official was dismissed by a judge earlier this month because the court did not have sufficient jurisdiction over a foreign government after Prime Minister Hun Sen’s oldest son was dropped as a co-defendant in the case last month, according to those involved.
– The Cambodia Daily

Axiata sells 10% stake in Cambodia’s Smart
Axiata Group sold a 10 percent stake of its Cambodian subsidiary Smart Axiata to Japanese group Mitsui Co Ltd to form a strategic partnership and further the firm’s activity in the Kingdom, according to a company release on Friday.
– The Phnom Penh Post

Commune elections 2017: Parties strut in first push for polls
The campaign for the June 4 commune elections officially began on Saturday morning with opposition CNRP leader Kem Sokha telling supporters that his party’s time had finally come and CPP Senate President Say Chhum similarly pledging an easy victory for the ruling party.
– The Phnom Penh Post

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Indonesia Morning News

Infonesia closes seed round from 500 Startups
Indonesian Q&A platform Infonesia has ralsed seed funding from international venture capital major 500 Startups, the company announced. The startup offers a social network product that performs Q&A with the difference being that it samples sites like Quora and live streaming apps.
– Deal Street Asia

BCM Alliance targets Indonesia for maiden overseas venture
ACE Market-listed BCM Alliance Bhd is aiming to enter Indonesia for its maiden overseas venture within two years, according to its executive director Lim Jit Wei.
– The Edge Markets

Singapore’s OCBC Bank starts private banking business in Indonesia
Singapore’s second largest lender by assets Oversea-Chinese Banking Corporation (OCBC) said Monday its Indonesian subsidiary will start a private banking unit.
– CNBC

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Lao PDR Morning News

Nam Ngiep 1 Project Starts Impounding Water
Nam Ngiep 1 Hydropower Project (NNP1) commenced impounding water in its re-regulation reservoir on 15th May 2017, with electricity generation scheduled to start before the mandated date in early 2019 after all electrical and mechanical installation is completed and the 115 kV transmission line is built by Electricité du Laos.
– Lao News Agency

Surrogacy group caught
A CROSS-BORDER network that uses Thai women as illegal surrogate mothers-for-hire has been exposed after the arrest of seven suspects on the weekend in Nong Khai.
– The Nation

Cooperation vital to energy development say Foreign Affairs
Laos is seeking the advancement of cooperation in energy development, especially in promoting investments in the renewable energy sector, officials say.
– Vientiane Times

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Malaysia Morning News

Malaysia keeping its options open on Trans-Pacific Partnership
The Ministry of International Trade and Industry said Malaysia is keeping its options open on the Trans-Pacific Partnership (TPP), following the first meet of all TPP ministers bar the United States, in which they decided to keep talks alive despite differing views.
– The Sun Daily

New Zealand splits with Malaysia over reworking TPP without US
New Zealand’s top trade official said his country wouldn’t gain much from major changes to a Pacific trade pact, highlighting obstacles to finalising the deal without the US after Malaysia called for more negotiations.
–FMT

Trade minister flags living costs as concern ahead of GE14
he cost of living is a key concern among Malaysian voters, according to a member of Prime Minister Datuk Seri Najib Razak’s Cabinet, setting the stage for it to be a major campaign topic in polls expected within months.
– Malay Mail Online

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Myanmar Morning News

Compiled by John Le Fevre    @photo_journ

Increasing productivity to drive competitive dairy industry in Myanmar
MYANMAR’S dairy industry will remain uncompetitive if the nation fails to address low productivity of raw milk driven by poor genetics and low production technology, said Dumrong Leenanuruksa, a former vice president of Maejo University in Chiang Mai who carried out comprehensive research on the competitiveness of Greater Mekong Subregion’s dairy industry.
– The Nation

200 buses to be exported to Myanmar
Two hundred South Korean-made buses will be exported to Yangon, the former capital and the largest city of Myanmar, for use by schools, South Korea’s trade promotion agency said Monday.
– Yonhap News Agency

China’s CNPC receives first crude through Myanmar-China pipeline – Xinhua
China’s state-owned refiner China National Petroleum Corp (CNPC) has started receiving crude oil on Friday through its Myanmar-to-China pipeline, the official Xinhua news agency reported on Saturday, quoting the company.
– Hellenic Shipping News

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Philippines Morning News

NUJP slams gov’t news agency for uploading ‘fake news’
The National Union of Journalists of the Philippines (NUJP) on Monday criticized the government-run Philippine News Agency (PNA) for posting “fake news” that claims 95 out of 105 nations agree there were no extrajudicial killings (EJK) in the Philippines.
– INQUIRER.net

Philippines’ debt-to-GDP ratio to go down to 35%
As the Duterte administration pivots to neighbouring economic giants such as China and Japan that offer financing for infrastructure projects, the share of foreign borrowings may exceed the government’s medium-term programme and reach 30% of the total, said the Philippines’ chief economist said.
– The Star Online

Real estate exposure of Phl banks dips below 20%
The real estate exposure of Philippine banks finally eased below 20 percent in the first quarter as housing prices remained steady amid sustained demand, data from the Bangko Sentral ng Pilipinas (BSP) showed.
– The Philippine Star

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Singapore Morning News

Nearly 5 in 10 Singaporeans don’t feel safe shopping online
According to the latest Mastercard Online Shopping Survey, online shopping has become an increasingly popular online activity compared to three years ago (75.4% vs 67.3%), with nearly all 18-24 year olds in Singapore (98.6%) having made an online purchase in the last 3 months.
– Singapore Business Review

Singapore posts higher sales in upscale condos
Sale of luxury condos and private apartments costing at least S$10 million increased to 36 units last year, reported The Business Times, citing URA Realis caveats data compiled by Savills.
– PropertyGuru

Singapore ‘supports joint efforts’ to sustain TPP: Lim Hng Kiang
Singapore “supports the joint efforts” of the remaining Trans-Pacific Partnership (TPP) signatories to sustain the massive free trade deal, Minister of Trade and Industry (Trade) Lim Hng Kiang said on Sunday (May 21).
– Channel NewsAsia

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Thailand Morning News

Compiled by John Le Fevre    @photo_journ

FOMM to make EVs in new Thai plant
Japan’s FOMM Corporation is scheduled to start the construction of its assembly plant for its compact electric vehicles (EVs) at Amata Nakorn Industrial Estate this year, with production expected to kick off by June next year.
– Bangkok Post

Three Years After Coup, Thailand Plagued by Lackluster Economy
Once prized in Southeast Asia for its economic strength, the new reality for Thailand three years after the military seized power is growth that’s lagging behind peers.
– Bloomberg

Authorities warned organizers of May 22 coup anniversary
Police and military officers have seized several documents deemed hostile to the National Council for Peace and Order from the organizers of a forum to mark the 3rd anniversary of the May 22 coup held at Thammasat University on Sunday.
– Thai PBS

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Vietnam Morning News

Compiled by John Le Fevre    @photo_journ

Vietnam, Indonesia seek to achieve 10 billion USD trade
Vietnam and Indonesia should actively prepare for the 7th session of the Joint Committee on Economic, Scientific and Technological Cooperation to seek more ways to achieve a trade value of 10 billion USD as set.
– VietnamPlus

Việt Nam urges Australia to ease shrimp trade ban
Việt Nam is working to persuade Australia towards an early lift of its ban on import of Vietnamese shrimp and uncooked shelled shrimp.
– Viet Nam News

In Vietnam, US trade rep says no return to TPP deal and wants bilateral deals in Asia
‘The U.S. pulled out of the TPP and it’s not going to change that decision. That does not mean we will not engage in this region.’
– VnExpress

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Asean Morning News is the most comprehensive selection of reports on what you need to know from around the Asean Economic Community (AEC) published. All articles are hand curated by the team at AEC News Today. It is published M-F by AEC News Today: Governance, not government; policies not politics.

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