EU business confidence in ASEAN

EU business confidence in ASEAN


Melanie Ullrich, Business and Policy Programme Manager

Three quarters of European businesses active in ASEAN expect an increase in ASEAN profits for 2017, according to the 2017 EU-ASEAN Business Sentiment Survey. As a result, 94 per cent of the respondents plan to expand or maintain their current levels of operations and headcount in the ASEAN. The survey, published today by the EU-ASEAN Business Council, monitors business sentiments and outlook for European businesses in ASEAN.

However, almost two-third of the respondents state that challenges remain, including non-tariff barriers that are hampering supply chain efficiency. Further economic integration is high up the wish list with almost three-quarters (71 per cent) of respondents saying that it would be important for their business success in the region. A high percentage of respondents (88 per cent) believe that the European Union should pursue a region-to-region Free Trade Agreement with ASEAN.

ASEAN Secretary-General Le Luong Minh will give a keynote speech in Hong Kong at Asia House’s Signature Conference: Asia Trade in the New Global Order.