EU business confidence in ASEAN

EU business confidence in ASEAN

06/09/17

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.