News / Supply chain diversification a boost for ASEAN economies

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Supply chain disruption through the pandemic and war in Ukraine have cost the ten Association of Southeast Asian Nations (ASEAN) economies an estimated $17bn a year, according to the latest research.

Formed in the late 1960s, ASEAN’s aims include promoting economic development and cooperation between what were emerging economies and are today said to be among the fastest-growing in the world.

Research carried by the Economic Research Institute, established to mirror the OECD, found ASEAN’s larger economies, including Singapore, Thailand and Malaysia, ...