World Trade Organization (WTO), which supervises and liberalizes international trades, has been working on renewing trade negotiations, Doha Development Round, for a while without much success. In the meantime, there have been many bilateral and regional free trade agreements by many governments especially in Asia. In general, free trade agreements, which are designed to reduce the barriers to trade, are believed to increase international trades. And, many believe that firms in export-oriented economies in Asia should be able to take advantage of it.
The Economist Intelligence Unit recently published very interesting survey results (For a full report, please visit this link) about views on free trade agreements among corporate executives in 8 Asia Pacific countries, and we would like to share key findings from the report. The findings are based on a survey conducted in Q1 2014 of senior executives from 800 companies in Australia, China, Hong Kong, India, Indonesia, Malaysia, Singapore, and Vietnam. More than 80% of respondents’ companies are small and medium sized companies with annual revenue of less than US$150M.
At JW Global Insight, we believe companies in any size should be able to take advantage of these free trade agreements to expand their markets. We also understand that many companies, especially small and medium enterprise, face many roadblocks that prevent them from capitalizing export/import opportunities. We are committed to deliver measurable business results to our clients by simplifying complexities in expanding business overseas. To find out more, please contact us at firstname.lastname@example.org.