KUALA LUMPUR: ASEAN aspires to be a prosperous single market with a highly-skilled and inclusive workforce, productivity and innovation-driven growth, while incorporating sustainability across and along the value chain through ASEAN Community Vision 2045 (ACV 2045).
Therefore, ASEAN member states need to fully and effectively implement the commitment in the ACV 2045 and all its strategic plans, further supported by the new elements introduced, especially in economic and connectivity development.
In the economic element of ASEAN cooperation, the vision is for the region to emerge as a globally competitive, seamlessly integrated and future-ready economic bloc.
“Through the new updated vision, ASEAN is expected to be a major player in the global economy and the fourth largest economy in the world, anchored on sustainable growth and good governance, empowered by advanced technologies and responsive to emerging opportunities.
“Besides, the community is guided to be a nimble and resilient community that is empowered in responding to future crises and long-term challenges,” according to a frequently asked questions list on ASEAN 2045 – Our Shared Future, released by Malaysia’s Foreign Ministry.
Additionally, it includes enhancing intra-ASEAN trade and investment and enhancing global supply chain linkages as the bloc is an industrial and manufacturing hub of the Indo-Pacific with dynamic micro, small and medium enterprises (MSMEs).
ASEAN also seeks to leverage advancements in science, technology, and innovation to develop an enterprising region that taps into the creative economy and advanced industries.
This includes cultivating an interoperable, secure and trusted digital ecosystem to drive transformation and deliver economic benefits across the community.
With a focus on streamlining production and logistics as well as safeguarding access to raw materials, the vision calls for ASEAN to strengthen its role in the global supply chain to reach maximum efficiency and increase the production scale of value-added goods.
The ACV 2045 also promotes the use of local currencies for cross-border transactions to reduce the region’s vulnerability to external volatility, enhancing disaster risk financing, and mitigating the risks or impact arising from climate change and environmental degradation.
On the connectivity front, the vision sets out to build a seamlessly integrated community with enhanced linkages within and between ASEAN member states, connected through, among others, sustainable infrastructure, payments connectivity infrastructure, continuous digital innovation, enhanced cybersecurity, regulatory excellence, efficient and resilient logistics and supply chains, efficient cross-border flow of information, and greater people-to-people connectivity throughout the region.
ASEAN further intends to prepare for future urban growth by leveraging modern technologies and innovative infrastructure, as well as enhancing ASEAN smart and sustainable cities.
