KUALA LUMPUR: ASEAN is actively constructing a trade and investment ecosystem designed to be open, resilient and prepared for future challenges according to Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.
He emphasised that Malaysia takes pride in its ASEAN chair role by transforming discussions into concrete actions during engagement sessions with dialogue partners.
“ASEAN does not wait for opportunity - we build it,” he stated in a release following the ASEAN Economic Ministers meetings with counterparts from China, Japan, South Korea and the United States.
The participating economic ministers included Chinese Vice Minister of Commerce Yan Dong and Japan’s Minister of Economy, Trade and Industry Muto Yoji.
South Korean Minister for Trade Yeo Han-Koo and US Trade Representative Jamieson Greer also attended these crucial trade discussions.
Tengku Zafrul confirmed that ASEAN economic ministers have reached an in-principle agreement to strengthen economic cooperation with these key global partners.
A major deliverable under Malaysia’s chairmanship involves signing the ASEAN-China Free Trade Agreement 3.0 Protocol during the October 2025 ASEAN Leaders’ Summit.
The ACFTA 3.0 upgrade demonstrates a mutual commitment to establishing a modernised and rules-based trade framework suitable for future economic needs.
Discussions with South Korea focused specifically on upgrading the ASEAN-Korea Free Trade Agreement with emphasis on future-shaping cooperation areas.
“These include the digital economy, critical minerals, supply chain resilience, micro, small, and medium enterprises (MSMEs), sustainability, and the green economy - all of which reflect our shared priorities in navigating an evolving global trade landscape,” he explained.
The ASEAN-US consultation reviewed the 2024-2025 Trade and Investment Framework Agreement covering digital economy and MSME development.
Participants also endorsed the 2025-2026 TIFA Work Plan to advance trade facilitation and intellectual property cooperation.
Meanwhile, the ASEAN-Japan consultation examined progress under the ASEAN-Japan Comprehensive Economic Partnership Agreement.
Key discussion topics included supply chain resiliency, green economy initiatives and building an inclusive digital ASEAN community.
The broader ASEAN+3 consultation involving China, Japan and South Korea addressed enhancing Regional Comprehensive Economic Partnership utilisation.
Additional focus areas included digital economy expansion, MSME capacity-building programs and joint research initiatives across the region. – Bernama
