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Euler Hermes comment - UK trade mission to South East Asia PDF Print E-mail
Wednesday, 29 July 2015

Commenting on the business opportunities in South East Asia, Mahamoud Islam, Senior Asia Economist at Euler Hermes, said:

“The ASEAN (Association of South Asian Nations) trade bloc looks particularly attractive for UK exporters, so the current UK trade mission is timely.

“In December 2015, a new ASEAN Economic Community (AEC) will launch formally but the benefits are already being felt. AEC members will reap economic benefits worth more than US$28 billion this year and next as a result of new trade opportunities, investment flows and lower transaction costs, according to our research: The ASEAN Economic Community: A big bang for regional supply chains?

“Investment flows into the region are expected to pick up by an additional US$8 billion to about US$150 billion a year, led by Japanese and Chinese companies, but there are attractive opportunities for British businesses wanting to export or relocate operations there.

“For example, Vietnam offers low labour costs, Singapore competes on a global level with its infrastructure, while Indonesia is rich in natural resources. We expect Singapore, Thailand and Malaysia to benefit the most from the launch of the AEC, while the sectors set to fare best are electronics, chemical, automotive and agri-food.

“However, there are some risks emanating from the economic integration of the diverse ASEAN member states. Risks will be highest for small and medium sized enterprises within AEC, regardless of the industry in which they operate.  Greater competition between AEC members will lead to downward price pressure, and credit risk is expected to increase in some sectors as supply chains will reshuffle in the first phase of this economic integration.”

(Source - Euler Hermes Comment)



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