The Austrian Commercial Counsellor, Michael Friedl, hosted a panel at the Austrian Strategic Business Summit in Tokyo on 3 October 2025 on the untapped opportunities ASEAN offers for Austrian and European businesses.
He was joined by
- Dr. Kirida Bhaopichitr, Thai economist and future Vice Minister of Commerce
- Akito Tanaka, Editor in Chief of Nikkei Asia
- Suan See Yap, Managing Director of AT&S in Malaysia
Key takeaways from the discussion with Austrian companies present:
While global attention often focuses on major powers, ASEAN’s ten member states from Myanmar to Singapore are emerging as a dynamic and increasingly influential economic region.
Once perceived as a purely low cost manufacturing destination, ASEAN economies are rapidly moving up the value chain, especially in high technology, clean energy, biotechnology and digital innovation. Malaysia, Thailand and Vietnam have become competitive players in electronics, semiconductors and data centers.
With multiple Free Trade Agreements, ASEAN remains one of the most trade friendly regions in the world. However, the absence of comprehensive agreements with the EU continues to drive bilateral pathways.
Media such as Nikkei Asia are contributing to a shift in perception, presenting ASEAN not simply as a production hub but as a center for innovation, digital expansion and soft power development, including electric mobility, e sports, gaming and the pink economy.
With a combined population of 680 million, a rising middle class and significant investment in infrastructure, ASEAN offers real and scalable opportunities for Austrian companies willing to actively engage in the region.
