ASEAN For Business - Enabling a Quicker, More Cost-Effective, and Predictable Supply Chain in ASEAN
- Canada-ASEAN Business Council (CABC)
- 3 days ago
- 1 min read
ASEAN has firmly established itself as one of the world's key supply chain hubs. In 2022, the region recorded a total trade in goods valued at USD 3.8 trillion, alongside a combined GDP of USD 3.6 trillion (ASEAN Statistics, 2023). ASEAN has evolved into a robust network of production and distribution, linking businesses both within the member states and globally.
Despite these achievements, they still represent untapped potential that must be unlocked to further enhance ASEAN's competitiveness in the global supply chain.
One key area to unlock this potential is by enabling ASEAN businesses to diversify their regional markets and enhance demand through improved regional coordination. A crucial element in achieving this is the implementation of a streamlined cross-border transit documentation system, which would allow businesses to move their goods more quickly, affordably, and predictably.