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CanCham G20 Event: Opportunities and Challenges of Doing Business in Asia-Pacific

CanCham hosted it's first event of four in its G20 Series, Opportunities and Challenges of Doing Business in Asia-Pacific, with event partners High Commission of Canada in Singapore ๐Ÿ‡จ๐Ÿ‡ฆ, British Chamber of Commerce Singapore (BritCham), British High Commission Singapore ๐Ÿ‡ฌ๐Ÿ‡ง , The Italian Chamber of Commerce in Singapore ๐Ÿ‡ฎ๐Ÿ‡น, Latin American Chamber of Commerce, Singapore, Singapore Mexico Chamber of Commerce and the Embassy of Mexico in Singapore ๐Ÿ‡ฒ๐Ÿ‡ฝ.

The event kicked off with a keynote address from event sponsor, Mitul Kotecha, Head of Emerging Markets Strategy, TD Securities, on the Economic Outlook for Asia-Pacific 2023. Key takeaways from his presentation include: headwinds in US and Europe will likely effect Asia-Pacific into 2023, however China's opening will likely help; tourism driven countries will drive growth in the region, whereas trade driven countries will likely struggle.

This was followed by an insightful panel discussion on the role that the Asia-Pacific plays in each country's international trade and investment policies, the competitive advantages that each country offers the Asia-Pacific and advice for companies looking to engage in trade with the Asia-Pacific.

Key takeaways from this discussion include:

- UK and Canada both look to the Indo-Pacific as a key growth partner

- Mexico looks to the Asia-Pacific as a great engine of growth

- Italy has three key sectors of investment: Agri-Tech, Machinery and equipment and transportation

- The UK is a great destination for education and skilled tech workers

- Canada is an attractive investment destination, as it has the lowest tax rate in the G7, political stability and leading innovation in many sectors

- When considering the Asia-Pacific, it is important to have a long-term strategy, a short supply chain and understand you your competitors are when entering these markets

Overall, this was a great success ๐Ÿ‡จ๐Ÿ‡ฆ ๐Ÿ‡ฌ๐Ÿ‡ง ๐Ÿ‡ฎ๐Ÿ‡น ๐Ÿ‡ฒ๐Ÿ‡ฝ in terms of collaboration from a Government and Chamber perspective!

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