EU-ASEAN Business Sentiment Survey 2016 Results Are In! (And EuroCham Cambodia Members Were The Top Contributors)
EU-ASEAN represents perhaps the two most ambitious economic blocs in the world. Growth of 5.5 % from 2010 through 2015 shows how dynamic the region has become, and European companies' confidence has increased noticeably in the recent years. This inter-regional cooperation has been captured with the Business Sentiment Survey of 2016.
In May 2016, EuroCham Cambodia asked its members to participate in the survey, of which 19% of members responded. This marked two years in a row that EuroCham Cambodia members had the highest participation in the survey! The final results are now out and may be found here.
Key findings include:
- 74% of respondents project an increase in ASEAN profits in 2016
- Almost two-thirds plan to expand their operations and headcount in ASEAN
- 85% plan to increase their level of trade and investment in the region
- 74% expect ASEAN's importance to their global revenues to increase over the next five years
- 66% of believe that the EU should pursue a region-to-region FTA with ASEAN
- 58% feel that they are at a competitive disadvantage without an EU-ASEAN FTA
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