KOTA TINGGI: ASEAN members have unanimously accepted the 18 proposed Priority Economic Deliverables (PEDs) during the 31st ASEAN Economic Ministers (AEM) Retreat.
Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said that of the 18 PEDs, nine are directly under the AEM, while the rest, although still under the economic pillar, are under other sectoral bodies.
“So today we discussed the nine, and all nine have been accepted. I have been informed by the other sectoral bodies that the other nine PEDs are also accepted,” he told reporters after chairing the 31st AEM Retreat in Desaru today.
Tengku Zafrul said the nine PEDs under AEM’s direct purview include concluding the negotiation and signing of the second protocol to amend the ASEAN Trade in Goods Agreement (ATIGA) and signing the ASEAN-China Free Trade Area 3.0 Upgrade Protocol.
The nine PEDs also contain substantial conclusions of the review of the ASEAN-India Trade in Goods Agreement (AITIGA), a joint declaration on economic cooperation between ASEAN and the Gulf Cooperation Council (GCC) as well as the adoption of the ASEAN Sustainable Investment Guidelines (ASIG).
The rest of the PEDs under AEM involve developing policy recommendations and guidelines to support the ASEAN electric vehicle (EV) implementation roadmap, the ASEAN Centre of Excellence for Micro, Small, and Medium Enterprises (MSMEs) in Green Transition, the ASEAN Framework for Integrated Semiconductor Supply Chain (AFISS), and the substantial conclusion of the ASEAN Digital Economy Framework Agreement (DEFA) Negotiation.
Tengku Zafrul said the other nine PEDs not directly under the ASEAN Economic Ministers are in areas such as climate financing, development of ASEAN capital markets, energy cooperation, agriculture, critical minerals, tourism, tech start-ups, an artificial intelligence (AI) safety network, and payment connectivity.
“As the chair, Malaysia would like to thank all ASEAN member states for their expressed support and commitment to ensure the timely implementation of these PEDs,” he added.
The retreat and related meetings were held in Desaru from Feb 22 to 28, in conjunction with Malaysia’s ASEAN chairmanship in 2025.
Malaysia’s chairmanship, themed “Inclusivity and Sustainability”, reflects Malaysia’s aspiration towards building a more inclusive and sustainable ASEAN community.
