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A vibrant economic hub, South East Asia’s highly trade-engaged economies include Singapore and Indonesia, offering the UK ample opportunities for economic expansion as Britain eyes post-Brexit trade deals, writes Sasha Wood

South East Asia

Driving trade with South East Asia is a clear priority for the UK, especially post-Brexit. The UK government has been busy strengthening relations with the diverse region, which includes modern metropolises such as Singapore, Jakarta, Kuala Lumpur and Bangkok, as well as emerging economies in Vietnam and to a lesser-extent the Philippines. These countries rank as the third largest Asian investor in Britain, contribute more to global growth than any other region, and are set to become the world’s fourth largest economy by 2030.

A diverse region of the world with a young population, at the heart of global trade routes and with promising prospects for the future, South East Asia is ripe for UK investment and new trade. In 2017, no less than 15 UK government ministers visited one or more South East Asian nations in a bid to curry economic favour. Among the visitors was former UK Minister for International Trade, Greg Hands, who attended last year’s South East Asian leaders trade summit in Singapore in an attempt to bolster trade ties with the region,

which is now home to four of the world's fastest-growing economies, including Singapore, Indonesia, Thailand and Malaysia. In fact, the UK already has a firm foothold in South East Asia. Economic Development Board statistics show that more than 4,000 British companies have a presence in Singapore alone, including global giants Rolls Royce, Standard Chartered, HSBC, Barclays, GSK, Dyson, Shell and BP. A more recent meeting between UK Minister of State for Asia and the Pacific, Mark Field, and the

Time zones: GMT +7hrs in Thailand, Vietnam and western Indonesia including Jakarta; GMT +8hrs in Malaysia, Singapore, the Philippines, and eastern Indonesia including Bali. Currency: Indonesian Rupiah: £1 = IDR18,496 Malaysian Ringgit: £1 = MYR5.32 Thai Baht: £1 = THB40.50 Vietnamese Dong: £1 = VND29,828 Philippine Peso: £1 = PHP67.19 Singapore Dollar: £1 = SGD1.75 Visas: UK passport holders do not need a visa for short visits to Vietnam, Thailand, Singapore, Indonesia, the Philippines and Malaysia. Passports must be valid for at least six months upon entry. Dialling codes: Thailand: +66 The Philippines: +63 Indonesia: +62 Singapore: +65 Malaysia: +60 Vietnam: +84

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The Business Travel Magazine June-July 2019  

The multi-award-winning publication written and produced for bookers, buyers, arrangers and managers of business travel and meetings. This i...

The Business Travel Magazine June-July 2019  

The multi-award-winning publication written and produced for bookers, buyers, arrangers and managers of business travel and meetings. This i...