BIZSpoke | What 2,000 ASEAN Manufacturers Are Saying About the Future of Trade and Tech

25 JULY 2025

What 2,000 ASEAN Manufacturers Are Saying About the Future of Trade and Tech

How are Southeast Asian firms adapting to regional integration, shifting policies, and positioning for future growth?

The IPS-SBF Conference “Global-City Singapore: SG60 and Beyond” kicked off with a Pre-Conference Forum featuring findings from a NUS-led study of over 2,000 manufacturing firms across seven ASEAN countries. The study, presented in the Pre-Conference Report, explored firms’ views on free trade agreements, digital transformation, sustainability, and regional cooperation.

Among Singapore-based firms, the top priorities identified were:

Lower tax rates for their industry,
Firm-specific tax breaks or incentives,
Regulatory changes affecting their sector,
Regulatory exceptions, and
Shaping the content or signing of international trade agreements.

Welcoming more than 800 participants, SBF CEO Kok Ping Soon highlighted the mounting pressure on Singapore businesses to innovate and compete globally amid three fixed constraints—manpower, land, and carbon—calling for fresh economic strategies to stay ahead.

Read the full report here

VIEW LINKEDIN

DEVELOPMENTS ON U.S. TARIFFS

U.S. Eases Tariffs Across Southeast Asia as Regional Trade Talks Accelerate

This week, the U.S. has reduced Indonesia tariffs to 19% down from 32%, while Indonesia will drop non-tariff barriers and tariffs on over 99% of U.S. exports. Malaysia is negotiating to reduce U.S. tariffs from 25% to around 20%, aiming for parity with regional neighbours like Vietnam and Indonesia. The U.S. and Philippines agreed on a 19% U.S. tariff on Philippine imports (down from 20%) in exchange for zero tariffs on U.S. imports. India expressed optimism about reaching a trade agreement with the U.S. before the 1 August deadline to avoid proposed 26% tariffs.

Reported on: CNA | Bloomberg | Bloomberg | AP News

US, Japan Agree Trade Deal, Lowering Threatened Trump Tariff to 15%

The U.S.-Japan tariff deal set a 15% baseline rate while Trump announced a $550 billion Japanese investment in the U.S.

Reported on: Nikkei Asia

Trump China Tariff Deadline Likely to be Extended, Bessent Says

Treasury Secretary Scott Bessent expects the U.S. and China to agree on an extension to the current 90-day tariff suspension during meetings in Stockholm next week.

Reported on: CNBC

WHAT'S NEW

Stronger FTA Use and Digital Push Key to Manufacturing Growth

In a CNA interview alongside Singapore Manufacturing Federation President Mr Lennon Tan, SBF CEO Kok Ping Soon emphasised the need to help local manufacturers stay competitive amid rising global pressures. He highlighted the growing demand for FTAs with wider coverage—especially in digital and services—and the importance of supporting businesses in using them effectively. Encouragingly, more firms are embracing digitalisation and decarbonisation, but stronger collaboration is needed to accelerate transformation across the manufacturing sector. Interview segment: 4:50 - 13:11

VIEW CNA INTERVIEW

SCALED INTERNATIONALLY

Connect and Collaborate at the Europe Series

Co-organised by SBF and EuroCham, the inaugural Europe Series (14–15 October) will feature the Europe Conference and Sustainovation Summit. Participating companies can connect directly with European businesses, explore collaboration opportunities under the Enterprise Europe Network (EEN), and gain valuable market insights through high-level discussions and business matching. Highlights include a European wine tasting segment. Early bird pricing ends on 31 August 2025.

SMART-ENABLED

Strengthening Business Resilience Amid Growing Cyber Risks

SBF is working with the Cyber Security Agency (CSA) to help businesses—especially SMEs—tackle rising cyber risks amid increasingly sophisticated digital threats. With 70% of essential service providers in the private sector, CSA is stepping up efforts in training and professional standards. While ransomware reporting remains voluntary, SBF's partnership with CSA focuses on proactive support and risk management to strengthen business resilience and advance Singapore’s ambitions in digital trade and economic security.

Drive Business Growth with Complimentary Digital Advisory

Looking to grow your SME with digital solutions? IMDA’s CTO-as-a-Service (CTOaaS) offers complimentary, personalised digital advisory sessions for SMEs in Singapore. Get a customised roadmap, expert guidance, and assistance to tap government grants.

SUPPORTED EVENT

SMEICC: Powering Your Business in a Disrupted World

Get ready for the 28th SMEICC this September — Singapore’s leading bilingual SME Conference returns with powerful insights to help businesses thrive in a disrupted world. Hear from top leaders behind brands like CHAGEE, LUXASIA, GetGo, and Amazon. Join bold conversations on tech, innovation, and the new global order with ASEAN’s rising business generation. Explore strategies to drive real impact and position your business for growth in today’s fast-evolving landscape.

Be Part of Fashion's Next Chapter

25 September – Be The Change Summit:

Now in its 4^th year, this summit explores the future of fashion through panels on innovation, impact investment, inclusive design, and more — featuring leaders from fashion and beyond.

26 September – Singapore Stories:

This 8^th edition runway spotlights designers from Singapore, Southeast Asia, and beyond — reimagining fashion through sustainability, culture, and innovation.

Tickets are now available. SBF members enjoy a special partner rate of $250.

This isn’t just an event. It’s a movement.