Sixty per cent of companies in the Greater Bay Area are thinking of expanding into ASEAN in the next 3 years. With its strong regional footprint, UOB can help businesses enter this market.
The IPEF is a US-led pact that seeks to integrate partners via agreed standards around digital economy, supply chains resilience, anti-corruption measures and clean energy.
Singapore small businesses are keen to tap ASEAN’s opportunities but lack the know-how. Industry partners like UOB can offer support for regional growth plans.
Sam Cheong of UOB writes about ASEAN and China’s increased interconnectivity through continued collaborations – which has grown over the past few decades.
SMEs in ASEAN can apply for suitable FTAs (such as AFTA, RCEP) to access intra-regional trade and raw material sources with lower import and export barriers.