Over 600 Million Population in ASEAN Boosts Enormous Steel Market

Bureau of Foreign Trade Kaohsiung Office pointed out that the total ASEAN GDP has outrun India and is currently replacing China with ASEAN's more than 600 million population, abundant natural resources, and young labor force. ASEAN is to become the best production base and market for domestic demand. Take the steel market for instance, Southeast Asia has already become the fastest growing region of steel consumption in the world. Due to the region's huge demand for import and lack of domestic steel refinery plants, steel plants of Taiwan, Japan, and Korea rush in to invest and keep track on the huge market opportunities of the region in the shortest distance possible.