Why should you export to the ASEAN Area?

– Its GDP would be the 7th in the world;

– It would be the 4th power exporter to the world;

It would be the 3rd most populous state.

These numbers have recently been joined by another reason to consider Southeast Asian countries: the Regional Comprehensive Economic Partnership (RCEP), the largest free trade agreement for the aggregate GDP of its members, signed on November 15, 2020, Will go into effect on January 1, 2022.

The ASEAN Secretariat announced that as of November 2, 2021, six ASEAN member states (Brunei, Cambodia, Laos, Singapore, Thailand, and Vietnam) have ratified the agreement along with Australia, China, Japan, and New Zealand. According to the provisions of the agreement, the RCEP will enter into force sixty days after that date, on January 1, 2022.

With an aggregate GDP of over 26 trillion dollars (representing 30% of global GDP) and nearly one-third of the world's population, the RCEP should aupping trade and investment by removing barriers and the 90% of tariffs among participating members within 20 years of entry into force and providing preferential access in the region's growing markets.

According to the latest report by MISE and ICE, ASEAN Area countries have an average growth rate of 5% per year, representing a unique opportunity for Italian foreign trade. Italy has not yet fully exploited the potential of this area: The emerging middle class offers Italian companies the opportunity to bring products and services to new consumers who are increasingly looking abroad to satisfy their needs.

Our focus on the ASEAN Area

Are you interested in exploring the opportunities offered by the ASEAN region? Then you are in the right place: in recent months we have presented numerous articles, published newsletters and organized webinars in Southeast Asian countries, precisely because we believe it is an area destined for growth, holding enormous potential for Italian companies looking to internationalize.

Below we report some of our focuses. Do you want to read them in detail and figure out which one is best for your business? Then click on one of the links below and contact us: we will study the best solution together.

Focus: Export to Indonesia, a road ready to go

Focus: From China to ASEAN, the new production realignment in the post-COVID-19 era

Focus: Vietnam, the New Manufacturing Hub and the Free Trade Agreement with the EU

Interview with Tomaso Andreatta, Indochina Chief Representative of Banca Intesa Sanpaolo