Latest news with #CommerceMinister
Bloomberg
27-05-2025
- Business
- Bloomberg
Thailand Clears Plan to Exit US Intellectual Property Watchlist
Thailand's cabinet approved a new framework for enforcement of intellectual property rights as the Southeast Asian nation seeks to exit from a US watchlist ahead of tariff talks with Washington. The so-called Thailand Intellectual Property Work Plan has been prepared in coordination with the office of the US Trade Representative, and its adoption should pave the way for Thailand's removal from the watchlist, Commerce Minister Pichai Naripthaphan told reporters after a cabinet meeting in Bangkok on Tuesday.
South China Morning Post
22-05-2025
- Business
- South China Morning Post
China, Asean finish talks to forge stronger free trade deal amid US tariff war threat
China has negotiated an updated free-trade deal with the 10-nation Association of Southeast Asian Nations (Asean), strengthening Beijing's role in the region amid ongoing trade tensions with the United States. In a virtual meeting on Tuesday, Commerce Minister Wang Wentao and his Asean counterparts announced that they had completed talks to update the 15-year-old free trade deal. The 3.0 version of the agreement now awaits ratification from member countries and could be signed within the year. 'China stands ready to work with Asean to ensure the stability of global supply chains, advance shared development and safeguard international fairness and justice,' Wang said. He warned against the misuse of tariffs and economic coercion, referring to Washington's global tariff war that it launched in early April. 'It has seriously undermined the global trading system with so-called reciprocal tariffs, bringing huge uncertainties to the world economy,' Wang told his Asean counterparts. 'There are no winners in a tariff war or trade war.'
RNZ News
19-05-2025
- Business
- RNZ News
Should banks be allowed to put fees on open banking?
Should banks be allowed to charge fintechs to access customer data? And could doing so stifle open banking innovations? Government officials are rethinking a proposal that would allow banks to charge financial technology platforms wanting to access customer data, such as budgeting apps. The move comes after MBIE's proposal to allow as much as $5 per month per customer drew the ire of many in the fintech sector - with some businesses saying the fees would threaten their viability. Lance Wiggs is an investor in the budgeting app Pocketsmith. He says the average customer would reach the proposed cap within 15 days, and the fee would make the business unviable. MBIE acknowledges the concerns and says it will provide more advice to the Commerce and Consumer Affairs Minister, Scott Simpson, ahead of a decision before December. Kathryn speaks to Lance Wiggs and Nick Houldsworth - co-founder of fintech Prosaic which provides an artificial intelligence tool to accountants, and Massey University Associate Professor of Banking, Claire Matthews. Photo: 123RF
Reuters
09-05-2025
- Business
- Reuters
China's commerce minister meets with head of Russia's economic development ministry
BEIJING, May 9 (Reuters) - China's commerce minister met with the head of Russia's ministry of economic development in Moscow on Thursday, according to a Chinese ministry statement on Friday. The two officials had in-depth exchanges on economic, trade and investment cooperation as well as responding to U.S. reciprocal tariffs, the statement said. China recently decided to agree to hold high-level economic and trade meetings with the U.S. after "full and comprehensive assessment," Chinese minister Wang Wentao said in the meeting, vowing to safeguard China's own development interests.
