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  • Writer's pictureOvertEd Markets

Should you be taking a closer look at the ASEAN community?

Updated: Apr 17, 2022

What happened during 2020?

GDP across the region decreased by 4.2%.

Regional Comprehensive Economic Partnership (RCEP) signed 10 November 2020 between ASEAN members and Australia, China, Japan, New Zealand and South Korea (ASEAN Dialogue Partners). This forms the largest trading bloc in the world and represents 30% of global GDP.

The ASEAN became China’s largest trading partner.

What is going to happen during 2021?

Brunei assumes Chairmanship of the ASEAN.

Top 5 ASEAN economies expected to expand by 5% during the year.

All major economies expected to reach pre-COVID levels by the end of 2021.

According to Investopedia, a contract for differences (CFD) is an arrangement made in financial derivatives trading where the differences in the settlement between the open and closing trade prices are cash-settled. There is no delivery of physical goods or securities with CFDs.

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