Beijing, Jul 14 (Prensa Latina) The Association of Southeast Asian Nations (ASEAN) and China advocated the updating of trade measures to improve regional economic integration, local media reported on Friday.
Hanoi, Jan 23 (Prensa Latina) Vietnam's diplomacy will focus on fulfilling six priorities in 2023, all aimed at maintaining stability and promoting national development, according to statements by Foreign Minister Bui Thanh Son in an interview with the VNA news agency.
Singapore, Apr 6 (EFE).- United States Trade Representative Katherine Tai said during a visit to Singapore Washington would like to promote an economic cooperation initiative with the Indo-Pacific, while China is ahead in trade agreements with the region. Tai spoke to Singaporean Prime Minister Lee Hsien Loong, visiting Washington last week, about “ambitious” initiatives to …
Japan passes bill to ratify regional free trade association agreement 1 minute read
Tokyo, Feb 24 (efe-epa).- Japan approved a legislative project Wednesday to ratify the Regional Comprehensive Economic Association, the largest free trade agreement in the world, and called it “the foundation for trade in Asia.”
The measure represents a further step toward the implementation of the pact closed in November at a 15-country virtual summit in Asia-Pacific, composed of Japan – the world’s third-largest economy – and China, the second.
The pact must be endorsed by Japan’s parliament, expected to happen “at an early date” before the end of the current parliamentary session in June, Trade Minister Hiroshi Kajiyama said at a Wednesday press conference.
Steel consumption reaches pre-pandemic levels
The pace of growth of steelmaking activities continues with an upward trend, despite the prospects of an uneven recovery in Latin American countries. In September, consumption totaled 5.025 million tons (Mt), an increase of 6.4% compared to August. This recovery was mainly leveraged by Brazil, Mexico and Peru, respectively. In the month, flat steel represented more than 85% of the recovery in consumption, while long steel represented 17.5%. Steel consumption reached 14.245 Mt in the third quarter, which represents an increase of 15.9% compared to the second quarter. Thus, consumption reached the 2020 average (14.245 Mt) and a process of recovery from pre-Pandemic levels of Covid-19 began (see graph 1). If the trend continues, there is a light at the end of the tunnel for the steel industry.