Abney Associates Predict Mutual Development From China and ASEAN Countries
Abney Associates believe that by concentrating on the development of industrial cooperation, still in its infancy between China and ASEAN countries is the way for them to achieve mutual growth.
- (1888PressRelease) July 31, 2013 - Set up in 1967, ASEAN comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. To consider it as one entity, it covers an area of 4.44 million square kilometers and has a population of approximately 576 million.
"Huge amounts of trading goes on between ASEAN countries and China, and has scope for further growth. This offers huge potential for investment opportunities both long and short term," explained James Carter, Senior Vice President of Mergers and Acquisitions at Abney Associates.
Trade between China and the Association of Southeast Asian Nations (ASEAN) reached a record high of USD $400.9Billion in 2012 and the general consensus is that this has flourished since the launch of the Regional Comprehensive Economic Partnership (RCEP), soon expected to be the biggest free-trade market in the world. Commodities are in huge demand and many different groups of consumers within China have instigated trade amongst ASEAN bloc companies to take full advantage. Trading in chemical, mechanical and transportation equipment products is an area that is especially showing rapid growth and seems to be offering the biggest potential for development.
"This year we have been watching the complimentary growth developing in a hugely encouraging way for industrial cooperation within each ASEAN member's financial market trading platforms. With half of the consumers in the world and one-third of the global GDP value, we are monitoring extremely closely any progress that will inevitably develop once the RCEP reveal their proposed financial strategies. By doing so we can maximize returns on investment for our clients," added James Carter, Senior Vice President of Mergers and Acquisitions at Abney Associates.
Although duty-free policies do not directly transpire into a common path for economic growth, the zero tariff policies are showing signs that they are working as intended. The policies were aimed at developing industry chains and also providing complimentary advantages amongst trading partners. It is evidently working well and is creating opportunity and that seems to be, not just the general opinion but also the reasoning as to why this is drawing the attention and interest from the senior VP at Abney Associates.
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