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Why should you export to the ASEAN Area?

Why should you export to the ASEAN Area?

In summary
  • Se l’ASEAN fosse un unico Paese, avrebbe il 7° PIL al mondo, sarebbe la 4° potenza esportatrice e il 3° Stato più popoloso.
  • Il RCEP, firmato il 15 novembre 2020, entra in vigore il 1° gennaio 2022 ed è il più grande accordo di libero scambio per PIL aggregato.
  • The RCEP involves a GDP of over 26 trillion dollars, 30% of global GDP, and almost a third of the world population.
  • L’accordo prevede l’eliminazione del 90% delle tariffe tra i membri entro 20 anni dall’entrata in vigore, con accesso preferenziale ai mercati della regione.
  • According to MISE and ICE, ASEAN countries are growing at an average of 5% annually, and the emerging middle class is seeking foreign products and services.

- 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 members (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 Focuses on the ASEAN Area

Are you interested in exploring opportunities in the ASEAN Area? Then you are in the right place: in recent months we have presented numerous articles, published newsletters and organized webinars on Southeast Asian countries, precisely because we believe it is an area that is destined to grow, reserving enormous potential for Italian companies that want 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 manufacturing reorganization 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

Frequently Asked Questions

Perché conviene esportare nell’Area ASEAN per un’impresa italiana?

Conviene perché l’ASEAN è un mercato grande e in crescita: se fosse un unico Paese avrebbe il 7° PIL al mondo, sarebbe la 4° potenza esportatrice e il 3° Stato più popoloso. Secondo MISE e ICE cresce in media del 5% annuo e l’Italia non ne ha ancora sfruttato pienamente il potenziale.

Che cos’è il RCEP e quando entra in vigore l’accordo di libero scambio nel Sud Est Asiatico?

The Regional Comprehensive Economic Partnership (RCEP) is the largest free trade agreement by combined GDP of its members. It was signed on November 15, 2020, and enters into force on January 1, 2022, sixty days after November 2, 2021, the date on which the necessary ratification threshold was reached.

Which countries ratified the RCEP on November 2, 2021?

Al 2 novembre 2021 hanno ratificato il RCEP sei membri dell’ASEAN: Brunei, Cambogia, Laos, Singapore, Thailandia e Vietnam. All’elenco si aggiungono quattro Paesi non ASEAN: Australia, Cina, Giappone e Nuova Zelanda. Lo ha annunciato il segretariato dell’ASEAN.

What commercial benefits does the RCEP bring to companies that want to export to Asia?

Il RCEP dovrebbe aumentare commercio e investimenti eliminando barriere e il 90% delle tariffe tra i membri entro 20 anni dall’entrata in vigore. Offre inoltre accesso preferenziale a mercati in crescita. L’area vale oltre 26 trilioni di dollari di PIL, cioè il 30% di quello globale, e quasi un terzo della popolazione mondiale.

Quanto cresce l’economia dei Paesi ASEAN e quale opportunità offre la classe media emergente?

Secondo l’ultimo rapporto di MISE e ICE, i Paesi dell’Area ASEAN crescono in media del 5% annuo. La classe media emergente rappresenta un’opportunità per le imprese italiane, perché questi nuovi consumatori guardano sempre più all’estero per soddisfare i propri bisogni con prodotti e servizi.

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