A shipping and logistics company views intra-Asian trade as an “immense opportunity” and plans to use its supply chain services to advocate small businesses in the area.
According to the logistics company, recent research on intra-Asian commerce that it released gives insights into the demands of regional firms that it can utilize to help its clients plan better.
“As the world’s largest package delivery company, it’s our job to help small businesses simplify the transition into international trade so they can capitalize on this opportunity while remaining focused on building a healthy, profitable business,” stated the logistics company.
“By assisting more businesses in succeeding in international trade, we hope to create a long-term ecosystem of opportunity, profitability, and growth.”
According to a study published last year, small businesses play a large role in Singapore’s trade with 11 other major Asian countries, which is expected to increase by over 50% to $13.5 trillion by 2030.
According to the study, retail, industrial manufacturing and automotive (IM&A), high-tech, and healthcare are the four industries contributing to the increase in intra-Asian trade across the 12 markets.
In 2020, these industries comprised 76% of Singapore’s trade with the rest of Asia and 75% of all intra-Asian trade.
The logistic company, however, asserted that multi-stakeholder action is necessary to address the impact of geopolitical tensions and restrictive trade policies across Asia, including tariffs and other punitive measures, which might affect its long-term trade prospects.
The logistic company stated, “Three key actions that can be taken include fully digitalizing, diversifying supply chains, and encouraging the integration of MSMEs (micro, small, and medium-sized enterprises) into regional supply chains.”
According to the logistical company, its most recent intra-Asia initiatives show its commitment to developing intra-Asian trade potential.
The logistic company stated in March that it would be expanding its Changi Airport hub in Singapore to support rising e-commerce and complex healthcare cargo demand.
