East Africa: The Next Frontier for Southeast Asian Business

President Tharman Shanmugaratnam and his spouse Jane Ittogi Shanmugaratnam visiting a spice stall in Darajani Souk
Source: The Straits Times / ST PHOTO: CHONG JUN LIANG
18 June 2026
Singapore's President Tharman Shanmugaratnam has issued a compelling call to action, one that resonates deeply with the mission of the Africa Southeast Asia Chamber of Commerce.
Speaking at the conclusion of his three-day state visit to Tanzania, the first ever by a Singaporean President, President Tharman described East Africa as a promising new frontier and urged the broader business community to deepen their understanding of the region. With Singapore assuming the ASEAN chairmanship in 2027, Minister of State for Foreign Affairs Zhulkarnain Abdul Rahim has further signalled that strengthening region-to-region ties with Africa is a clear strategic priority. The timing could not be more significant.
Two Regions, One Shared Story
Africa and Southeast Asia have more in common than many realise. Both regions share young, dynamic populations and fast-growing economies, while facing common challenges in climate change, energy security, and transnational issues such as pandemics and food security. These shared realities make the case for deeper cooperation not just commercially sensible, but strategically necessary.
Yet despite this natural alignment, Africa accounts for only 2 per cent of ASEAN's total international trade today. That gap is not a limitation. It is an enormous opportunity waiting to be unlocked, and the momentum to do so has never been stronger.
Real Opportunities, Right Now
The East African Community (EAC), comprising eight nations with a combined population of over 340 million, has an economy comparable to where ASEAN stood 35 years ago. Better governance, infrastructure investment, and economic diversification are accelerating its growth trajectory. As Minister Zhulkarnain noted, ASEAN's connectivity strengths can complement Africa's fast-growing trade networks, with concrete opportunities in logistics, trade, finance, e-commerce, fintech, and clean energy.
Singapore's announcement of FTA negotiations with the EAC is a landmark step, opening a potential gateway to the African Continental Free Trade Area and a continental market of over 1.4 billion people.
Building Bridges Together
This is precisely the bridge the Africa Southeast Asia Chamber of Commerce exists to build. We invite businesses across both regions to move from curiosity to action.