The IHK Pfalz (the regional German Chamber of Industry and Commerce) recently hosted an interesting event on opportunities for German companies in the ASEAN countries. Valuable insights into regional markets and their specific business practices were provided.
With bilateral trade between Germany and Southeast Asia amounting to just under €80 billion (as of 2024), the ASEAN region is a dynamic growth market for German companies, with machinery and electronics dominating. The most important of the 10 ASEAN member states – often referred to as the “ASEAN 5” – are Indonesia, Thailand, Singapore, Malaysia, and Vietnam. According to IHK data, they generate together over 80–85% of the total regional gross domestic product (GDP).
ASEAN is a strongly export-oriented economic region. Foreign companies – including German companies – that manufacture in the region are key drivers of this growth. Germany’s foreign trade with ASEAN is primarily characterized by imports from ASEAN.
The ASEAN countries offer German companies a wide range of opportunities but should not be viewed as a homogeneous bloc. ASEAN is characterized not only by topographical and economic differences, but also by a very large ethnic and cultural diversity. The ethnic Chinese population, for example, accounts for between approximately 5% (Indonesia) and over 20% (Malaysia) of the total population. However, their economic importance is often disproportionately high and has a particular impact on the private sector.
The IHK event therefore focused on recognizing the differences between these markets in the early stages of establishing economic relations and addressing potential business partners in a targeted manner.
Are you interested in further information?
We are happy to assist you:
Dorothea Slevogt
+49 6201 9915 76
Dorothea.Slevogt@SchlegelundPartner.de
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