Paris (VNA) - French businesses are looking to promote theirtechnology and products in the Association of Southeast Asian Nations (ASEAN),aiming to raising France’s competitiveness in a region until now dominated bygoods from Japan, the Republic of Korea and China.
The French Senate and Business France, a governmental agency in chargeof promoting foreign trade, co-organised a recent workshop on the ASEAN market tothis purpose.
Statistics of the French Treasury show ASEAN is France’s second biggesttrade partner in Asia, with bilateral trade turnover standing at 31 billion EURin 2017, up 5.9 percent year on year. France’s exports to ASEAN saw a 3.7percent increase in 2017 while its imports from the bloc surged 8.1 percent.
France holds an approximately 1.6 percent share of the ASEAN market,which is not high but has stayed stable through the past 10 years. This is apositive sign compared to other markets where France’s shares are declining.
Among ASEAN countries, France’s exports to Thailand went up 33 percent,to Malaysia - 23 percent, to Singapore – 10 percent and to Vietnam – 5.1percent, which indicated that French products are welcomed in main marketswithin ASEAN.
ASEAN is also a main destination of French investment, receiving 16billion EUR in 2017, only after China and Japan.
French Ambassador to Vietnam Bertrand Lortholary was of the opinion thatASEAN has potential to receive more French investment. He said France cansecure a good position in the ASEAN region which is experiencing rapid andprofound changes.
Sharing her experience in working in the Southeast Asian region, JackyDeromedi, chair of the France-Southeast Asia Parliamentary Friendship Group,said French businesses are welcomed in the region. She urged French businessesto come to the region, which she said has nothing but advantages and greatpotential.
Singapore’s Ambassador to France Zainal Arif Mantaha said the stablegrowth of the middle-income group in the ASEAN, estimated to expand fourfoldfrom now to 2030, will bring great opportunities for French businesses, whichhave strengths in such fields as services, aviation, luxury goods and food.
According to Joffrey Célestin-Urbain, deputy director for bilateralaffairs at the French Treasury, French investors have advantages in ASEAN in infrastructureand climate change. He noted that demand for infrastructure construction is hugein ASEAN countries, citing estimates of the Asian Development Bank that theregion would need 3,150 billion USD in this field during 2016-2030, or over 200billion USD a year, equal to 5 percent of the region’s combined GDP.
In addition, four countries in the region are among the most vulnerable toclimate changes, and they will have to invest around 200 billion USD inadapting to climate change.
Joffrey Célestin-Urbain also pointed to challenges facing ASEANcountries, the first of which is the rising protectionism, as most ASEANeconomies have integrated deeply into global production and value chains,especially in the electronics and information-communication technology sectors.
The second risk comes with the slowdown of the Chinese economy, with countriesrelying on exporting to China being the most affected.
The ASEAN is also easily affected by the world material market, as sixASEAN countries are net exporters of raw materials, which are Indonesia,Myanmar, Brunei, Laos, Malaysia and Vietnam.
Fourthly, the currencies of most ASEAN countries are closely related tothe US dollar, so their economies are vulnerable to any change in the US dollarexchange rate.
In the context of a complex period in the world with many concerns aboutthe future of international trade, the French business circle see ASEAN as aregion open to international trade and interested in strengthening trade tieswith Europe.
The Southeast Asian region’s increasing economic integration, along withgood prospects for the investment-trade cooperation between France and ASEAN ingeneral and each ASEAN member country in particular, is contributing to the economicdynamism of France.-VNA
The French Senate and Business France, a governmental agency in chargeof promoting foreign trade, co-organised a recent workshop on the ASEAN market tothis purpose.
Statistics of the French Treasury show ASEAN is France’s second biggesttrade partner in Asia, with bilateral trade turnover standing at 31 billion EURin 2017, up 5.9 percent year on year. France’s exports to ASEAN saw a 3.7percent increase in 2017 while its imports from the bloc surged 8.1 percent.
France holds an approximately 1.6 percent share of the ASEAN market,which is not high but has stayed stable through the past 10 years. This is apositive sign compared to other markets where France’s shares are declining.
Among ASEAN countries, France’s exports to Thailand went up 33 percent,to Malaysia - 23 percent, to Singapore – 10 percent and to Vietnam – 5.1percent, which indicated that French products are welcomed in main marketswithin ASEAN.
ASEAN is also a main destination of French investment, receiving 16billion EUR in 2017, only after China and Japan.
French Ambassador to Vietnam Bertrand Lortholary was of the opinion thatASEAN has potential to receive more French investment. He said France cansecure a good position in the ASEAN region which is experiencing rapid andprofound changes.
Sharing her experience in working in the Southeast Asian region, JackyDeromedi, chair of the France-Southeast Asia Parliamentary Friendship Group,said French businesses are welcomed in the region. She urged French businessesto come to the region, which she said has nothing but advantages and greatpotential.
Singapore’s Ambassador to France Zainal Arif Mantaha said the stablegrowth of the middle-income group in the ASEAN, estimated to expand fourfoldfrom now to 2030, will bring great opportunities for French businesses, whichhave strengths in such fields as services, aviation, luxury goods and food.
According to Joffrey Célestin-Urbain, deputy director for bilateralaffairs at the French Treasury, French investors have advantages in ASEAN in infrastructureand climate change. He noted that demand for infrastructure construction is hugein ASEAN countries, citing estimates of the Asian Development Bank that theregion would need 3,150 billion USD in this field during 2016-2030, or over 200billion USD a year, equal to 5 percent of the region’s combined GDP.
In addition, four countries in the region are among the most vulnerable toclimate changes, and they will have to invest around 200 billion USD inadapting to climate change.
Joffrey Célestin-Urbain also pointed to challenges facing ASEANcountries, the first of which is the rising protectionism, as most ASEANeconomies have integrated deeply into global production and value chains,especially in the electronics and information-communication technology sectors.
The second risk comes with the slowdown of the Chinese economy, with countriesrelying on exporting to China being the most affected.
The ASEAN is also easily affected by the world material market, as sixASEAN countries are net exporters of raw materials, which are Indonesia,Myanmar, Brunei, Laos, Malaysia and Vietnam.
Fourthly, the currencies of most ASEAN countries are closely related tothe US dollar, so their economies are vulnerable to any change in the US dollarexchange rate.
In the context of a complex period in the world with many concerns aboutthe future of international trade, the French business circle see ASEAN as aregion open to international trade and interested in strengthening trade tieswith Europe.
The Southeast Asian region’s increasing economic integration, along withgood prospects for the investment-trade cooperation between France and ASEAN ingeneral and each ASEAN member country in particular, is contributing to the economicdynamism of France.-VNA
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