ASEAN is the world’s third most populous economy and is projected to become the fourth largest economy by 2030. By then, domestic consumption, which powers roughly around 60 percent of ASEAN’s gross domestic product (GDP) today, is expected to double to 4 trillion USD.
In the first six months of 2020, Vietnam's export volume to ASEAN countries was estimated at nearly 11 billion USD while its import volume from the bloc was over 14 billion USD.
Vietnam has played an active role as the Chairman of the Association of Southeast Asian Nations (ASEAN) 2020, especially in leading the bloc in implementing the ASEAN’s initiatives and priorities in the context of the COVID-19 pandemic, Ambassador and Permanent Representative of Laos to ASEAN Ekkaphab Phanthavong told Vietnam News Agency’s correspondents in Jakarta.
The Association of Southeast Asian Nations (ASEAN) has agreed to prioritise its signining of the Regional Comprehensive Economic Partnership (RCEP) with six free trade partners by the end of this year.