TheCityUK has announced the launch of its ASEAN Market Advisory Group (MAG) for the financial and related professional services industry – the first of its kind to be established in the UK. The Group will comprise senior experts and practitioners from across the industry with the aim of identifying trade and investment opportunities and priorities for strategic business dialogue between the UK and the ASEAN region.
Chris Cummings, Chief Executive, TheCityUK, said, "The ASEAN countries are among the fastest-rising of the emerging markets. They offer enormous potential for UK-based firms right across the financial and related professional services industry. As a region, ASEAN's aggregate GDP is already around the same as the UK – around $2.5 trillion – and by 2050, economic growth predictions by McKinsey suggest it will become the world's fourth largest economy.
"This, alongside the ASEAN Economic Community's stated goal to achieve economic integration across all 10 member states by the end of 2015, underscores why now is an opportune time for the industry to forge stronger links with the region, help to shape the strategic policy priorities for trade and investment and establish a productive, mutually beneficial business dialogue. It is also essential for London to work closely with international growth markets to ensure it retains its position as a leading international financial centre."
"ASEAN is already performing strongly as a region, and its immense economic promise will continue to create significant opportunities for UK-based firms," said Sushil Saluja, Chairman of TheCityUK's ASEAN MAG, and a senior managing director in Accenture's Financial Services group who has lived and worked in both Asia Pacific and the UK. "I am certain that, as we set our goals and priorities over the coming months, the Group's deep experience in cross-regional business – including Accenture's strong presence in both the UK and across ASEAN – will fuel a proactive dialogue."