ASEAN
ASEAN AREA’S ECONOMIC PERFORMANCE AND TRADE RELATIONS WITH ITALY: BROADENING OPPORTUNITIES
Italian trade and economic relations with ASEAN Countries are steadily increasing, but are still below their potential. Major opportunities are opening up in several sectors and in particular in the high-tech and R&D-intensive industries.
The ASEAN area is experiencing sustained growth and outstanding economic performance
ASEAN Countries have an aggregate GDP of $2,543 billion, forecasted to grow outpacing global economic performance. They are also the 4th largest exporting Region globally and account for 8% of world total FDIs and 8% of world total population (of which 60% is below 34 years of age). These basic numbers highlight the relevance of the area and its potential which is expected to increase as urbanization and a growing consumer class will make it one of the reference markets globally.
In this context, Italian trade and economic relations with ASEAN Countries are steadily increasing, but are still below their potential. Major opportunities are opening up in several sectors and in particular in the high-tech and R&D-intensive industries, where Italy can provide competences, technologies, know-how, and a “business model” capable of delivering beneficial spillover to those Countries willing to reap the most benefits from the development of local extended value chains.
Read the full Position Paper
This Position Paper illustrates the key drivers of the ASEAN area’s growth and its economic relations with the European Union and Italy and was presented during the first “High Level Dialogue on ASEAN Italy Economic Relations”, which took place in Jakarta on May 15 and 16, 2017.
