AEC Feed

The Philippines and the United Kingdom have expressed “mutual enthusiasm” over negotiating for a possible bilateral free trade agreement (FTA), once Britain’s exit from the European Union has been completed.
“We can’t start on formal talks until we formally leave the EU. But on both sides, there is a lot of enthusiasm and that’s why once we have left the EU, then we can move to have an FTA with the Philippines,” said Richard Graham MP, the British Prime Minister’s trade envoy to the Philippines.
But if Brexit is completed prior to the EU-FTA negotiations, the UK will then have the flexibility to start FTA discussions with the Philippines. An advantage to negotiating on a bilateral basis is that it would be easier, Graham said.
“There will be more flexibility for the UK and Philippines. We will just negotiate the agreement between two countries. It will be easier when you’re talking with just one party than having 27 other countries involved. In our case, the UK has a strong services sector and we are a very open country. We are also not sensitive about agriculture produce from the Philippines. And that alone may be advantageous for both sides,” Graham explained. – Philippine Daily Inquirer

Vietjet offers discounted tickets to mark new route
Vietjet is celebrating the launch of a new route connecting Hanoi with the central ancient city of Hue by giving away 300,000 super-cheap tickets for all domestic routes.
These routes include those connecting Ha Noi with Hoh Chi Minh City, Da Nang, Nha Trang and Phu Quoc, besides Da lat, Pleiku, Tuy Hoa and Can Tho, as well as Buon Ma Thuot, Quy Nhon, Chu Lai and Hue.
Under the “12pm, it’s time to Vietjet”s campaign, the promotion will run between September 1 and December 31 via www.vietjetair.com.
The Hanoi-Hue route will be launched on November 1, with a flight duration of one hour and 10 minutes per leg. The daily flight will depart from Ha Noi at 12.35pm and arrive in Hue at 1.45pm. The return flight will take off from Phu Bai International Airport at 2.20pm and land in Hanoi at 3.30pm.
Apart from offering reasonable fares, Vietjet is also well-known for organising community-oriented events such as the Hue hot air balloon festival in 2016, a musical night to commemorate musician Trinh Cong Son and the Miss Vietnam pageant.
Now Vietjet is launching a series of entertainment activities such as free tickets to Tuan Chau Island in northern Quang Ninh province for all organisers and contestants involved in Miss Vietnam 2016.
— Viet Nam News

VN plan to implement border trade with Laos
Vietnamese Prime Minister Nguyen Xuan Phuc has issued a plan for implementing a border trade agreement between Vietnam and Laos.
Under the plan, relevant agencies will publicise the agreement’s content and help people to obey the terms and instruction documents.
They will also support businesses in the border area between the two countries in trade promotion, cross-border investment and tourism and in developing border market operations.
The trade promotion activities will include market studies, exhibitions and trade fairs, advertising and consultancy, besides brokerage, agents and services for better access and penetration of markets through the border gates of the two countries. The agencies will also conduct programmes to encourage businessmen and residents in border areas to invest in production and farming in the border provinces, based on the agreement’s preferential policies and mechanisms on investment operations, and to develop tourism in the provinces of the two sides. — Viet Nam News

Posco will stay with us: Krakatau Steel
Indonesia’s state-owned publicly listed steel company PT Krakatau Steel has denied a rumour that South Korean steel company Posco will withdraw its investment in the joint venture PT Krakatau Posco.
The joint venture has recently booked losses.
The joint venture, established in 2010, is 70 per cent owned by Posco and 30 per cent owned by Krakatau Steel. According to Posco’s latest consolidated report, the company has recorded US$39.3 million (Bt1,350) in losses, compared to $71.6 million in 2015.
“The operations of the company [Krakatau Posco] are excellent. However, the low price is a big hindrance,” Krakatau Steel president Sukandar said at a shareholder’s meeting at Bidakara Hotel in Jakarta on Thursday. – The Jakarta Post