Page 49 - Horizon Han22

Culture Class with Maurice Pattison
In this issue, our regular feature will put the spotlight on two Asian countries, Vietnam and Singapore. With both countries part of the CPTPP this seems like an excellent time to take a closer look at some cultural aspects. To help us do this, we've asked well-travelled culture specialist Maurice Pattison to bring it all
to life with some personal experiences.
Firstly, the Importance of Culture Anyone who has traded internationally will appreciate the importance of the cultural differences, not only between different regions, but also between different countries within those regions. Get it wrong and you could easily offend your counterparts and lose any chance of concluding a successful business deal.
We asked well-travelled, international business development expert, Maurice Pattison to give us some useful pointers on two neighbouring countries, Singapore and Vietnam.
To start with, what exactly do Singapore and Vietnam offer as potential opportunities for UK exporters and importers? After all, there are eleven members of the CPTPP so what makes these two of particular interest?
signed a Digital Economy Agreement with Singapore, the 5th largest global financial centre in the world and where the services sector contributes to over two-thirds of GDP.
In fact, in 2020, the World Bank ranked Singapore as the second easiest place in the world to start, run and do business. It is well reported that a new business can be set up in Singapore in a matter of hours.
Put this alongside Singapore's exciting and prosperous maritime industry, it's easy to see why it is such a good opportunity for UK businesses.
Vietnam, is also an exciting and expanding middle class nation. Trade between Vietnam and the UK tripled between 2010 and 2019, in fact, their International trade has almost quadrupled over the last decade.
As mentioned in our CPTPP article, in 2019 Vietnam was placed 24th in the global ranking shares of import markets. By 2050, they are expected to rise to 10th on the list, offering plenty of opportunity to UK exporters.
With the global middle-class moving further east, these two countries may represent the perfect starting position for UK businesses to take advantage.
49. Culture Class
If you are thinking of trading with the Far
Well, the UK actually already has bilateral East, what kind of subtle differences can
trade agreements with both Vietnam and make or break your chances?
Singapore. On top of this, in 2022, the UK
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