May 3, 2014 – Representatives from America’s fourth-largest export market toured the FedEx World Hub in Memphis the evening of May 5. The 10 member countries of ASEAN – the Association of Southeast Asian Nations – have become the largest importer of American goods and services, after Canada, Mexico and China.
FedEx executives hosted the ASEAN delegation, including ambassadors and delegates from nine member nations: Brunei, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. The group also met with the Memphis government, academic and business communities to discuss ways to expand trade with the region.
In 2012 ASEAN economies grew at the rate of 5.5 percent, and imported approximately $100 billion of American goods and services, nearly $2 Billion from Tennessee alone. ASEAN nations are expected to continue to expand their economic vitality for years to come, particularly as trade reforms are implemented across the region. In 2015 ASEAN is scheduled to integrate into the ASEAN Economic Community (AEC), which promises to remove additional barriers to trade and investment in the region and create new opportunities for U.S. and ASEAN companies.