KUALA LUMPUR: Malaysia is set to drive an inclusive and sustainable economic agenda as it assumes the chairmanship of Asean in 2025, focusing on equitable distribution of the economic benefits of regional integration, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
He emphasised that Malaysia’s leadership under the theme “Inclusivity and Sustainability” will ensure that Asean’s economic growth extends to all, including women, youth, and micro, small, and medium enterprises (MSME).
“Malaysia is determined to ensure the economic wins of regional integration benefit all, including women, youth and MSMEs. We are creating pathways for the greatest participation from these groups in Asean’s development next year,” he said at the Asean-Malaysia Business Forum 2024 today.
On Priority Economic Deliverables (PED) to boost Asean’s standing, Tengku Zafrul said under the Economic Pillar, the Asean chairmanship will focus on four key PED which are enhancing trade and investment, creating an inclusive and sustainable pathway, promoting integration and connectivity, and building a digitally resilient Asean.
“Our proposed PEDs will be instrumental in establishing Asean as a global economic leader. With Asean projected to grow to a GDP (gross domestic product) of US$4.5 trillion (RM20 trillion) by 2030, this is a pivotal time to deepen economic integration and resilience,” he explained.
Tengku Zafrul noted that the PED will address key areas, including upgrading free trade agreements, fostering sustainable investments, and promoting digitalisation through the Asean Digital Economy Framework Agreement.
“Special attention will be given to the semiconductor supply chain, Asean tourism and climate financing,” he added.
The minister highlighted specific programmes to empower marginalised groups.
“Initiatives like the ‘Women in Trade and Industry’ programme and the Asean Women Entrepreneurs’ Network aim to provide greater regional access for female entrepreneurs. We want to ensure Malaysian women entrepreneurs have greater access to opportunities within Malaysia and Asean. Events like the Asean Women Economic Summit 2025 will serve as platforms for collaboration and growth.”
For MSMEs, Tengku Zafrul said the emphasis will be on supporting their green transition and export expansion, leveraging frameworks such as the i-ESG Framework and regional trade agreements such as the Regional Comprehensive Economic Partnership.
“Youths, women, and MSMEs will play a critical role in Asean’s economic trajectory. We are ensuring that they are not just participants but active contributors to Asean’s growth story,” he added.
Additionally, Tengku Zafrul underscored Asean’s rise as a global economic powerhouse.
“Currently the world’s fifth-largest economy, Asean is expected to become the fourth largest by 2030, fuelled by robust GDP growth, trade momentum and a growing population exceeding 800 million by 2045. Asean is becoming a neutral base for global supply chains amid geopolitical shifts. Malaysia’s chairmanship offers a vital opportunity to attract investments and expand intra-Asean trade, which now stands at 25%.”
Looking ahead, he emphasised the importance of unity and collaboration among Asean nations to navigate global challenges.
“How Malaysia steers Asean in 2025 will have an impact that lasts well beyond our lifetimes. This is our chance to ensure Asean’s prosperity is inclusive, equitable and sustainable,” he said.
As Asean gears up for its next phase of economic integration, Tengku Zafrul noted that Malaysia’s leadership will be crucial in ensuring that the benefits are shared by all segments of society, fostering growth and resilience across the region.
