ASEAN; Bangkok; Forward Look

Growing the UK economy is the first mission of the UK government.

That’s why we are focused on deepening the UK’s trade relationships with Southeast Asia – ASEAN is already the world’s fifth largest economy, and is projected to grow to the fourth largest by 2027. The UK is the world’s sixth largest economy and we have targeted to be the fastest-growing economy in the G7. There is much we can achieve together.

UK-ASEAN trade: from strength to strength

The UK-ASEAN trade relationship is already worth £47 billion, and there is plenty of room for growth.

Foreign Secretary David Lammy was in Laos last month for the ASEAN Foreign Ministers Meeting, where he said in an interview with Singapore's The Straits Times that the UK’s foreign policy in Southeast Asia will see “significant continuity” with a focus on growing trade.

Martin Kent , His Majesty’s Trade Commissioner for Asia Pacific, was also in Laos last month for the ASEAN Senior Economic Officials Meeting. There, he met with counterparts to discuss the UK-ASEAN partnership to strengthen the digital economy, growing our financial services partnership, and share our tools for easing supply chain dependencies.

We look forward to making our full contribution at the upcoming ASEAN Economic Ministers Meeting, and the ASEAN Business and Investment Summit which I will be attending together with the UK-ASEAN Business Council (UKABC) and a delegation of British businesses. 

A key part of my role involves travelling across Southeast Asia to meet government officials, business and investors, and speak at trade events to support the bilateral trade relationship. I’m based in Singapore and, since I started the role in April, I’ve visited Indonesia, Vietnam, Cambodia, the Philippines, Malaysia, and Thailand.

Deepening UK-Thailand trade             

As part of the UK government's growth mission, we are actively championing exporters to find opportunities in new markets. Thailand is ASEAN's second-largest economy, and I visited companies there recently to understand their experiences and ensure that we are geared up to support them.

I caught up with the British Chamber of Commerce Thailand (BCCT) to find out how we can help British businesses on the ground, and updated them on the UK Government’s priorities. It was also a pleasure to witness the MoU signing between Easson Energy and Chapman Taylor Architects to develop energy efficiency technology in Thailand.

I spoke at the Techsauce Global Summit alongside Angela Macdonald, Norbert Bak and Miika Tomi . I discussed how the UK can partner Southeast Asia on global challenges – from climate to health – and make the most of opportunities from AI and the digital economy.

Last but not least, I met with Thai investors including Gulf Energy Development Public Company Limited , Singha Ventures and the Thai Government Pension Fund to promote the UK as an investment destination ahead of October's International Investment Summit. The UK already has the highest FDI stock in Europe, and the third highest in the world. We are open for business and look forward to welcoming investment from across the region at the summit and our regular bilateral receptions.

Looking ahead

Here are some upcoming events in Southeast Asia that may be of interest to your business. Please reach out through the links below if you would like further information and support.

·       Food Ingredients Show in Indonesia, 4-6 September

·       Built Environment Asia in Singapore, 4-6 September

·       Bali International Airshow, 18-21 September

·       BETT Asia 2024 in Malaysia, 2-3 October

·       ASEAN Business and Investment Summit in Laos, 7 October

·       UK-ABC led Delegation to ASEAN Business and Investment Summit, 8-11 October

·       Asian Development Bank’s 12th Business Opportunities Fair 2024, 9-10 October

·       UK Schools Mission to Thailand and Malaysia, 7-10 October

·       Singapore International Cyber Week/GovWare, 14-17 October

·       UK-Thailand Food and Drink Showcase Inward Mission, 15-17 October

·       UK Food and Drink Showcase 2024 in Indonesia, 15-17 October

·       Digital Health Conference in Malaysia, 17-18 October

·       Green Economic Forum and Exhibition in Vietnam, 21-23 October

·       Singapore International Energy Week (SIEW), 21-25 October

·       Singapore Week of Innovation and Technology, 28-30 October

·       Singapore FinTech Festival, 4-8 November

·       Indonesia Defence Exhibition, 6-9 November

·       Thailand Space Week, 7-9 November

·       Vietnam NHS missions, 2-4 December

·       Vietnam International Defence Expo, 19-22 December

UK exporters: https://bit.ly/UKExport

Southeast Asian investors: https://bit.ly/APACInvestment