Minister of Investment, Trade and Industry calls for ASEAN to strengthen food, energy and digital security while building institutional capacity against risks.
KUALA LUMPUR: ASEAN must strengthen food, energy, and digital security, while building institutional capacity to anticipate and mitigate any geopolitical and economic risks before they escalate into crises.
Malaysian Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said that the 10-member bloc should be on protecting the stability of regional and global supply chains, securing access to critical goods, energy, and technologies, and reducing overdependence on any single market or production source.
“While some equate economic security with isolation or protectionism — a path regrettably pursued by several major powers — ASEAN’s approach should focus on remaining open yet secure,” he said in his opening remarks at the ASEAN Joint Foreign and Economic Ministers’ Meeting today, the first in over two decades.
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As one of the world’s major regional blocs, ASEAN must remain steadfast in upholding a rules-based multilateral trading system that underpins global stability and shared prosperity.
“ASEAN should advocate for more focused and high-impact reforms at the World Trade Organisation (WTO), particularly in areas such as enhancing subsidy transparency, establishing digital trade governance, and restoring trust in dispute settlement mechanisms, to rebuild trust and confidence in global trade rules,” he said.
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In parallel, Tengku Zafrul said it is timely for the region to strengthen its regional economic security to enhance its ability to anticipate, manage, and respond to emerging risks across both economic and political spheres.
“I hope the ASEAN Geoeconomics Task Force (AGTF), established earlier this year, will provide valuable inputs to help shape our region’s future,” he added – Bernama
