Cambodia has said it is willing to renew negotiations with Thailand for the joint exploration and development of an offshore oil and gas field in the Gulf of Thailand. The area targeted is believed to hold at least US$300 billion worth of reserves. Pen Bona, the Cambodian government spokesperson, told Bloomberg News that his country remains committed to discussing the issue with the Pheu Thai-led governemtn. “If the new government of Thailand is ready, we are happy to continue the negotiations,” he told Bloomberg. The two neighbouring countries have been squabbling over the overlapping claims area (OCA) of 27,000 square…
Author: Asia News Network
Amid growing Chinese assertiveness on maritime issues, India and the ASEAN on Thursday reaffirmed the importance of maintaining and promoting peace, stability, maritime safety and security, freedom of navigation and overflight in the region. They also called for unimpeded lawful maritime commerce and promotion of peaceful resolutions of disputes, in accordance with universally recognised principles of international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS) and the relevant standards and recommended practices by the International Civil Aviation Organisation (ICAO) and the International Maritime Organisation (IMO). ”In this regard, we support the full and effective…
International and regional security concerns will take center stage at the Association of Southeast Asian Nation Summit this week, as leaders will likely apply pressure on China and Russia over ongoing geopolitical conflicts. US Secretary of State Antony Blinken and Japan’s newly elected Prime Minister Shigeru Ishiba both confirmed their trip to Vientiane, Laos, Tuesday. Beijing also confirmed that Chinese Premier Li Qiang will attend the multilateral meetings. President Yoon Suk Yeol’s office on Oct. 3 unveiled Yoon’s itinerary during the summit period, as he is poised to attend the South Korea-ASEAN summit, the ASEAN Plus Three summit and the…
Lao Prime Minister Sonexay Siphandone sees ASEAN business leaders as key drivers of the digital economy, utilising global trends such as artificial intelligence (AI) for more effective and consistent economic development. This is one of the key messages the Prime Minister delivered during the ASEAN Business and Investment Summit (ABIS) 2024 opening ceremony on Tuesday in Vientiane. The Prime Minister said that the active and decisive moves of the ASEAN private sector can strongly position the region to compete on the global stage, particularly in sustainable development, trade, and other sectors. Prime Minister Sonexay emphasised that Laos, as the bloc’s…
ChatGPT-maker OpenAI, the San Francisco-based company synonymous with bringing generative artificial intelligence (AI) into the spotlight, will open its second office in Asia in Singapore later in 2024. The Singapore office – the company’s fourth international branch – will focus on advancing regional collaboration, including work with national programme AI Singapore on generative AI models that are tuned to understand and reflect cultures and languages in South-east Asia. OpenAI’s expansion here signals the start-up’s long-term plans to tap Singapore’s growing pool of tech talent and deepen its roots in the region, acting as a hub for its Asia-Pacific (Apac) partners.…
North Korean leader Kim Jong-un warned Monday that Pyongyang would “not tolerate” any disruption to the Korean Peninsula’s balance of power, which he claimed is upheld by North Korea’s nuclear arsenal and threatened by the growing “nuclear alliance” between South Korea and the United States. However, Kim simultaneously asserted that North Korea had no intention of attacking the South, North Korea’s state media reported Tuesday. The remarks came during his 60th-anniversary commemoration speech at the Kim Jong-un University of National Defense, which was renamed in his honor. Kim again condemned President Yoon Suk Yeol’s Oct. 1 Armed Forces Day speech,…
Vietnam and France have issued a joint statement on the upgrade of bilateral relationship to a Comprehensive Strategic Partnership on the occasion of Party General Secretary and State President To Lam’s official visit to France from October 6-7. Both sides committed to bolstering bilateral ties on the back of mutual respect for international law, equality, sovereignty, independence, territorial integrity and political system of each other. They pledged to maintain high-level exchanges and interactions through all channels between the French administration and the Communist Party, Government, National Assembly, and local authorities of Vietnam. Vietnam and France underscored the importance of multilateralism,…
Japan and the Association of Southeast Asian Nations will aim to establish common rules to promote decarbonization in Asia, according to a draft joint statement of the Asia Zero Emission Community (AZEC) summit to be chaired by Prime Minister Shigeru Ishiba. Scheduled for Friday in Laos, the meeting will focus on promoting the establishment of rules on calculating and reporting greenhouse gas emissions in cooperation between Japan and the ASEAN, in a bid to strike a balance between decarbonization and economic growth. Ishiba is scheduled to visit Laos from Thursday to Saturday to attend an ASEAN-related summit meeting and host…
In a troubled world, partnerships between like-minded countries are more important than ever, said Prime Minister Lawrence Wong, and in that vein, Singapore and South Korea are deepening and widening their relationship in areas from start-ups to food safety. Both will work towards upgrading ties to a strategic partnership in 2025. It will be a timely milestone, marking the 50th anniversary of the establishment of diplomatic ties, PM Wong said at a joint press conference with visiting South Korean President Yoon Suk Yeol on Oct 8. “The upgrade is not just a change in name, it also means more substantial…
Asia’s high-net worth (HNW) market will hit double-digit growth in the next two to five years, according to the estimates of insurers and brokers in Singapore and Hong Kong. The firms told reinsurer Swiss Re that the growth will be higher than before the Covid-19 pandemic, with most of them expecting Asia’s HNW market to expand by 10 per cent to 20 per cent. Their optimism stems from the belief that emerging Asia is set to outperform other regions. In 2023, economic growth in emerging Asia was more than 6 per cent. Swiss Re expects this to be just under…