Economy

Having long given its support to regional and multilateral efforts to promote trade, Brunei Darussalam has recently been highly involved in negotiations for a new multilateral free trade agreement that could transform the economies of the Asia-Pacific region.

With the emirate’s fiscal house in order, Ras Al Khaimah’s (RAK’s) government and the banking sector have provided a solid bedrock for recent expansion in the industrial and tourism sectors, two of the economic segments that saw growth in 2011.

The latest data on Thailand’s consumer confidence shows that Thais are beginning to look more positively on the future, as the government moves to boost growth and restore the country’s infrastructure after last year’s devastating flooding.

With the mining and agriculture sectors performing well and a major liquefied natural gas (LNG) export project nearing completion, Papua New Guinea (PNG) used 2011 to prepare for an expected resource-related boom over the coming years. Despite some political discord, the country took a number of progressive steps during the year, including the establishment of a sovereign wealth fund (SWF), which was seen as vital for the management of future revenues.

Malgré les troubles politiques qui ébranlent le monde arabe depuis début 2011, le Maroc a conclu l’année relativement indemne, sans avoir subi les protestations observées dans de nombreux autres pays de la région, et en affichant une croissance économique positive. Le maintien de la croissance des secteurs non agricoles, les politiques macroéconomiques saines et les réformes politiques en cours ont en effet permis au Maroc d’enregistrer l’an dernier l’un des taux de croissance les plus élevés de la région.

Looking to a bit of belt-tightening in its public spending scheme, the Jordanian government is working to mitigate the effects of recent turmoil in the global financial markets, the Arab Spring uprisings and the eurozone sovereign debt crisis on the local economy.