DHL Global Forwarding, the leading international freight specialist division of Deutsche Post DHL Group, foresees a strong and sustained growth in cross-border road transportation in Southeast Asia where the e-commerce sector is expected to grow 5.5 per cent in 2021.
The predicted upswing is driven by the renewed economic growth in many of Southeast Asia’s leading economies, as manufacturing rebounds and companies regionalize and diversify their supply chains.
This outlook is similarly echoed for Malaysia as the market is expected to see a slight economic rebound of 6 per cent this year.
These trends are outlined in the whitepaper, ‘Southeast Asia Freight: The Road to Growth’, released on Wednesday.
“With the easing of trade restrictions and implementation of new regulatory initiatives in the region such as the ASEAN Customs Transit System and Regional Comprehensive Economic Partnership, trade cooperation will continue to strengthen and bolster intra-Asia trade. This augurs well for ASEAN countries as they gear up to bounce back strongly from the Covid-19 pandemic,” said Kelvin Leung, CEO, DHL Global Forwarding Asia Pacific.
One of the most significant developments is the ASEAN Customs Transit System (ACTS) introduced in 2020, which allows operators to move goods seamlessly across multiple ASEAN borders with a single guarantee that covers duties and taxes for the entire journey.