As a proven, reliable partner for India, we always look beyond the boundaries of our core business for our customers. Today we are giving a brief insight into the growing economic region between India and China, the interesting states of the "Association of South East Asian Nations" (ASEAN).  

With a GDP of almost USD 4 trillion, the almost 700 million people of the 10 ASEAN states are already on a par with India, but are still at the level of China's economic power in 2008. However, the economic differences between the individual countries in the world's largest economic union after the EU are still significant.  

Duty-free status and freedom of movement for workers 

Since 2010, all countries in the ASEAN community have agreed to the duty-free exchange of goods and services, regulated in the so-called ATIGA (ASEAN Trade in Goods Agreement). The free movement of workers is also being gradually expanded, particularly for skilled workers, although it is currently still restricted by bureaucracy resulting from national immigration and labor laws. 

Free Trade Agreements 

A major asset for the entire community is free trade agreements with China, Japan, South Korea, Australia and New Zealand, making it an attractive production location for East and Southeast Asia. Thailand and Vietnam, the heavily populated industrialized countries on the central mainland, are particularly benefiting from this.   

Thailand, Vietnam, Malaysia 

Thailand, with its large automobile production for the world market leaders from Japan, Europe and now China and its almost perfect infrastructure, is now under severe pressure from Vietnam. Both countries are fighting for dominance in the electronics industry, and both offer investors long-term tax exemptions. Malaysia is one of the three continental Asian industrial nations, but due to its smaller population it cannot quite compete at the top. 

Brunei, Singapore, Indonesia and the Philippines  

Brunei and Singapore are the richest countries in the community, although the latter is a rather expensive location that is increasingly focused on finance. Indonesia, with its 17.000 islands and 275 million people, and the Philippines, which are under strong American influence, are more likely to attract special investor interest due to their peripheral location.   

Laos, Cambodia and Myanmar 

Laos, Cambodia and Myanmar are the less developed countries of ASEAN, which – heavily dependent on their large neighbour China – still lag behind the other countries in the community.   

The Sanet Group 

If you want to expand your economic interests beyond India into Asia, you are also in good hands with us: For years we have been working with the German-Austrian Sanet Group (www.sanet.eu). Since 2005, the company has been offering management and investment consulting, legal advice and accounting, commercial representation and market entry strategies as well as personnel consulting and placement in Bangkok with four companies.    

We would be happy to put you in touch with this one-stop service in the heart of ASEAN with extensive expertise across the entire region.  

Call us without obligation or write to us.