KOTA TINGGI: Malaysia’s chairmanship happens to be at a pivotal point for ASEAN where Trump 2.0, geopolitical and geo-economic tensions, ongoing wars and conflicts, rising multipolarity and climate change are collectively disrupting ASEAN’s sustainable growth.
Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said ASEAN member states must chart ASEAN’s economic trajectory and carefully navigate their way in the changing world order, against major operational challenges.
Therefore, he said, the 31st ASEAN Economic Ministers (AEM) Retreat, scheduled for tomorrow, is a crucial platform for fostering collaboration and dialogue among ASEAN ministers.
“It is against such a challenging backdrop that Malaysia has proposed a set of carefully curated Priority Economic Deliverables (PEDs) under our chairmanship.
“We hope to receive all countries’ endorsement during the ministers’ retreat tomorrow,” he said in his opening remarks at the 31st AEM Retreat welcoming dinner at Desaru Coast Conference Centre, near here tonight.
He said ASEAN members must stand united to spearhead efforts aimed at creating greater growth opportunities for the region.
“It is important for us to collaborate closely so we can transform all these obstacles into opportunities for inclusive and sustainable prosperity across ASEAN.
“The PEDs reflect our determination to collectively develop effective strategies that can leverage on each of our unique strengths for ASEAN’s greater good,” he said.
He said that by working together, ASEAN has better negotiating leverage with its trading and investment partners to foster innovation and build its member states’ capacity.
“This is key to creating a sustainable and resilient economic framework.
“This will also enable us to tackle current issues, prepare ourselves for future challenges and opportunities as well as position ASEAN as a reliable and dynamic player in the global economy,” he said.
Tengku Zafrul said one key narrative is to promote ASEAN as the world’s manufacturing and services hub in a way that utilises its workers and natural resources fairly and equitably.
“This is why we have chosen Inclusivity and Sustainability as our chairmanship’s theme,” he added.
Tengku Zafrul is scheduled to chair the retreat tomorrow where ASEAN members are expected to discuss 18 PEDs, aimed at strengthening regional economic integration, enhancing inclusivity, promoting sustainability, and driving digital trade within ASEAN.
