19 Feb, 2025

Laos, Canada Strengthen Partnership Toward Canada-ASEAN Free Trade Agreement

On 18 February, the Embassy of Canada to Laos hosted a workshop in Vientiane Capital on emerging issues in the Canada-ASEAN Free Trade Agreement (ACAFTA).This full-day workshop, the second of its kind, outlined Canada’s objectives for ACAFTA chapters addressing emerging trade issues. Canadian experts presented opportunities for enhanced collaboration to support successful negotiations and sustainable development.More than 30 participants attended the event, including members of the Lao government’s Trade Negotiation Committee and its subsidiary bodies, embassy staff, and Lao entrepreneurs. The workshop built upon commitments made during the ASEAN Summit in Vientiane in October 2024, where ASEAN and Canada agreed to finalize ACAFTA by the end of this year.Trade negotiation experts from Laos and Canada explored key topics such as inclusive trade, environmental provisions, and labor standards.Saysana Sayakone, Director General of the Department of Trade Negotiation and Economic Cooperation at the Ministry of Industry and Commerce, emphasized the importance of ACAFTA for Laos, stating:“ACAFTA presents a transformative opportunity for Laos to enhance its economic growth and competitiveness by expanding market access, attracting investment, and integrating more deeply into regional and global value chains.“As we navigate emerging trade issues, including inclusive trade, environmental standards, and labour practices, Laos is committed to ensuring that the agreement supports sustainable development and benefits all sectors of the Lao economy, particularly small and medium-sized enterprises. We look forward to continued collaboration with Canada to maximize the potential of ACAFTA and to promote inclusive and resilient economic growth.”Chargé d’Affaires of Canada to Laos, Kent Vachon, highlighted the significance of ACAFTA, stating:“Trade diversification is important for Canada, Laos, and the rest of ASEAN. ACAFTA will drive mutual and sustainable economic growth while making Laos more attractive to investors. This workshop provided a timely platform to advance understanding and collaboration, and included Lao businesses keen to capitalize on the opportunities presented by this trade agreement.”Since 2021, Canada and the Association of Southeast Asian Nations (ASEAN) have been negotiating ACAFTA. ASEAN is Canada’s fourth-largest merchandise trading partner, with bilateral trade reaching USD 26 billion in 2022 and a trade surplus of just over USD 17 billion in ASEAN’s favor.

14 Feb, 2025

Coinbase CEO Foresees Blockchain Powering Global Economy, Reports Record Revenue

Key Takeaways● Coinbase CEO Brian Armstrong predicts blockchain will power up to 10% of the global economy by 2030.● Coinbase posts record Q4 revenue of $2.3 billion, driving a 10% stock surge.● U.S. crypto regulations under the Trump administration signal a shift in government stance.● Coinbase expands into Argentina and India, strengthening its global presence.● Stablecoin legislation and market structure reforms could reshape the crypto landscape.Coinbase CEO Brian Armstrong envisions a world where blockchain technology underpins a significant portion of the global economy. Speaking on the company's Q4 2024 earnings call, he projected that 10%—possibly even 25%—of global GDP could be "on crypto rails" by the decade’s end. With the World Bank valuing global GDP at over $100 trillion, that would mean more than $10 trillion in economic activity operating on-chain.The New Internet: Blockchain’s EvolutionArmstrong likened the current crypto revolution to the internet boom of the early 2000s. Just as businesses had to embrace the web to remain competitive, he argues that blockchain will become equally indispensable. “Onchain is the new online,” he declared, reinforcing Coinbase’s role as a primary gateway for businesses integrating blockchain technology.This vision is underscored by Coinbase’s stellar Q4 performance, with an 88% quarter-on-quarter revenue surge, netting $2.3 billion in earnings—its strongest quarter in over a year. The stock responded with a 10% jump, reflecting investor confidence in the company’s trajectory.Regulatory Shifts and the Trump Administration’s Crypto StanceArmstrong also praised the U.S. for its evolving regulatory framework, calling this “the most pro-crypto Congress we’ve ever seen.” With Trump’s administration actively exploring stablecoin legislation and market structure reforms, Coinbase sees an opportunity to help shape policies that could serve as a model for other nations.The company has been vocal in its support of Trump’s approach to digital asset regulation, with Armstrong engaging political leaders to push for favorable policies. Coinbase’s influence was evident in its ongoing battle against Operation Choke Point 2.0, with the Trump-appointed Crypto Czar now taking Coinbase’s concerns seriously.Global Expansion and Future AmbitionsBeyond the U.S., Coinbase continues its international push, expanding into Argentina and reestablishing ties in India. Meanwhile, the rise of meme coins has helped counter speculation that Coinbase’s token listings are losing impact.With a clear focus on revenue growth, infrastructure scaling, and regulatory engagement, Coinbase is positioning itself at the forefront of what it sees as a new era in cryptocurrency adoption.