With its immense future potential, Asia is the next business destination

Unsurprisingly, Asian markets represent the second-biggest trade market in the world. If your business in Australia, the US or Europe is seeking expansion opportunities, Asia is an excellent choice. Here is why.

• Asia is a trading partner with the majority of Western economies

• It brings approximately 40 per cent of the world’s consumption

• Many Asian companies have become worldwide market leaders in sectors such as technology, automotive and logistics. This translates into opportunities for transformative collaboration and development

• Asia is thriving online. It accounts for nearly half of the overall Internet users globally

How you can expand your business to Asia

There are a few options: Exporting, Licensing or Direct investment

Exporting

Given that you are always in control of your product’s manufacture in your home country, exporting is definitely not the riskiest option. The required investment capital is not as much as establishing a business in a different country. In addition, you have more time to comprehend the market before committing a larger portion.

Licensing

Normally, companies looking to sell in the Asian markets would licence the manufacture of their products to a local manufacturer, in accordance to a licensing model. This is a common procedure for the beverage industry. The major benefit for the industry of beverages being the expensive transportation cost can be avoided with local manufacture.

Direct investment

Regardless of the previous options, many firms choose to establish a firm in a foreign country as a medium to extend their business into Asia. This alternative will require extensive appropriate research on multiple business aspects such as costs and logistics concerns. Keep in mind that Government incentives as well as Special Economic Zones need to be looked in before making any decisions.

Asian markets provide massive opportunities, yet, taking chances always comes with risks.

Australia-Asia Business Week presented at Marvel Stadium, Docklands, Melbourne 5-6 October 2022, showcasing the pathways to Asia with a focus on India, China, Hong Kong, Singapore, Indonesia and Vietnam.

Join the Two-day Exhibitor Showcase – Free online visitor registration

Luncheon as a delegate

Highly recommended for enterprises seeking to develop their Asia strategy.

Visit https://australiaasiaforum.com.au